Wal King Discusses His New Coal Play

 

What’s former Leighton chief Wal King up to these days? He’s putting the finishing touches on an astute acquisition by bringing together Terracom Limited (ASX:TER) with Universal Coal.

King chairs Terracom which will now have a diversified portfolio of coal assets spanning Australia and South Africa. Terracom was the ultimate winner after a string of suitors attempted to takeover Universal in the past. Universal operates three mines – mainly thermal coal but with some coking output – with a fourth in progress. Output is underpinned by offtake agreements with the country’s state-owned utility Eskom.

About Tim McGowen

Tim McGowen is the co-founder of informedinvestor.com.au. He was previously the founder of Fortitude Capital the Hedge fund of the Year in 2008 & 2009. More recently he was a global Portfolio Manager for PM Capital.

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