BY: YOREE KOH From: The Wall Street Journal July 06, 2012 11:04AM
LOOKING to become a bigger player in the coal industry, Sumitomo Corp expects to snap up 50 per cent of an Australian mine deal worth $430 million this month.
If the Japanese trading house seals the deal, it will land its biggest stake in a coal mining project to date, demonstrating its growing appetite for the hot commodity as it boosts its annual output by a third.
