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Yanzhou Coal Mining Co. Falls For a Second Time in Hongkong Trading
May. 05, 2010 04:23PM PST
Industrial Metals Investing
The Chinese energy company which paid more than $3 Billion Felix Resources Ltd., Yanzhou Coal Mining Co. has its shares decline which reached as much as 5.2% after falling another 6.3% yesterday. According to the Australian Government on May 2, the 40% tax will start in 2012.
Anna Yu, an energy analyst at Taifook Securities Group […]
The Chinese energy company which paid more than $3 Billion Felix Resources Ltd., Yanzhou Coal Mining Co. has its shares decline which reached as much as 5.2% after falling another 6.3% yesterday. According to the Australian Government on May 2, the 40% tax will start in 2012.
Anna Yu, an energy analyst at Taifook Securities Group Ltd. in Hong Kong said, “This tax is negative news for Australian mining companies, including Yanzhou Coal. It won’t have a significant impact until after 2012, but we think it could reduce the company’s profits after that by 5 to 10 percent.”