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Coal
Gloucester Coal Ltd. gained 4.1% to A$7.69. The miner is targeting 5.5m tons of production in the 2012 fiscal year and 10m tons by 2015, according to a regulatory filing.
Whitehaven Coal Ltd. agreed to buy Aston Resources Ltd. A$2.25b in shares to create the biggest independent publicly traded coal company in Australia. The offer values Aston at A$11 a share, 13% more than Aston’s closing price on Dec. 9
Comment: The coal market seems bussling. Gloucester Coal is partially owned by Noble (N21). Also consider short-term trades on Sakari (AJ1)
Sources: Bloomberg, Reuters, WSJ, The Business Times, Analyst Reports, Company Announcements
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