with the support of
AUSENCO and HSBC
Thursday, November 7th at 12.30 p.m.
Presents a leading coal industry profile with
Xstrata Coal CEO Peter Coates
PowerPoint Presentation – Click Here
It has one of the greatest Australian coal stables ever assembled (14 mines) with great names like Ulan, Bulga, Mount Owen, Liddell and Ravensworth – the pickings of Glencore through the good times and many hard times of the 1990s.
In September last year Xstrata had this bundle primed, ready for a mega-IPO under the Enex Resources banner when, three days beforehand, September 11 hit . A quick change of plans, the acquisition of South Africa’s Duiker Group (and another 14 coal mines) and the global group was listed as Xstrata Plc on the London Stock Exchange in March this year the beginnings of new diversified miner like Rio, Anglo and BHP was floated.It was seen as a great growth story running on the strong form of global Xstrata head Mick Davis and his previous success with Billiton. It joined the FTSE 100 in June this year offering the market leading global position in coal, ferro-alloys and zinc.
Coal is Xstrata’s main game with 44.5 million tonnes accounting for 67% of turnover.Not bad for a company that only saw its first twinklings 10 years ago.
The controlling shareholder behind this mammoth is mineral commodity powerhouse and coal trader Glencore.If anyone has a view on commodity futures in the global village it is Peter Coates, a mining engineer whose 37 year career has reached from beginnings in Broken Hill over most of our major commodity fields.One of our first guests in some time not to fly from interstate, Peter will give us a snapshot of Xstrata to the minute and his views of coal in a post-Kyoto world.
The Forum is held at the Tattersalls Club at 181 Elizabeth St, Sydney (adjoining the Sheraton on the Park). There has been a relaxation of dress rules at the Tattersalls Club so ties and jackets are no longer required.
Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.
Dear Sydney Mining Clubbers,
‘Members’ are required to pay $35 reflecting the new, but fair, schedule of charges. Because – at least for now – the Sydney Mining Club uses a virtual membership, where people who have attended once automatically become members, we have removed the differing charges for ‘members’ and ‘non-members’ and replaced it with a flat $35 charge. If the additional cost represents a significant imposition to you, you need only let Sharon know by e-mail and you can stay with the $30 ‘concession’ rate. All students remain at $10 so you should remind your student friends of this. I can assure you we are working hard to minimise the cost of your forum lunches.
At some time in the future we may move to a formal membership arrangement for the Sydney Mining Club so if you have any friends and colleagues to add to our ‘virtual membership list’ – that is our e-mail list – now is the time to send their name and e-mail address to Sharon.
Regards,
Julian Malnic.
AusIMM students $10, Concession Rate $30, Everyone else $35. Corporate Table bookings (10 people) $375.00 (incl GST) per table
Please note any bookings received after close of business on the Tuesday prior to the lunch will automatically be charged a late fee of $10 per person. .
The Sydney Mining Club
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