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Taiwan Power in Talks to Invest in Australia's Hancock Coal

  • Taiwan imports all the coal it requires. The fuel accounted for about 40% of the island’s electricity output last year. A deal with Hancock would be the utility’s second investment in a coal mine, after it acquired a 10% stake in the Bengalla mine in the Hunter Valley region of New South Wales, Roger Lee, spokesman of the Taipei-based company, told to Bloomberg.

  • Paul Mulder, head of GVK Group and Hancock Prospecting’s Hancock Coal unit, couldn’t be reached for comment.Taiwan Power, known as Taipower, is the island’s monopoly grid operator and biggest electricity producer. It buys about 27 million metric tons of coal a year, according to Lee.

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