Centennial Coal Company (CEY)

Shares / Stock Code

CEY

Stock Exchange / Sharemarket

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Centennial Coal Company (CEY) is Australia's largest independent coal company and is also a coal mining and marketing company engaged in the supply of coking and thermal coal to both Australian and export markets. The CEY is also the fuel supplier to the energy industry of the New South Wales. Approximately 30% of its coal production is exported through the ports located in Port Kembla and Newcastle in New South Wales. CEY was listed on the Australian Stock Exchange on the 4th of August 1994. Its average annual revenue reaches approximately $900 million out of its issued capital of $190 million. Its headquarters is located in New South Wales, Australia and to date; around 1900 people are employed in the company. Centennial Coal Company operates mainly through its coal mining segment.

With the coal mining segment of Centennial Coal Company, CEY operates a total of 13 coal mines located in New South Wales with customers that include the steel mills and power stations in India, Korea, Japan, South America and Europe.

Centennial Coal Company also manages and deals with its wholly owned subsidiaries like Berrima Coal Pty Limited, Airly Coal Pty Limited, Clarence Coal Investments Pty Limited, Charbon Coal Pty Limited, Ivanhoe Coal Pty Limited and Hartley Valley Coal Company Pty Limited.

CEY's future is secured through the management of portfolio that contains organic growth at existing operations development projects as well as divestment, acquisitions and focused exploration.

Centennial Coal Company (CEY) History

The Centennial Coal Company (CEY) was founded in 1989 and it was held public and was listed on the ASX in 1994. In 1998, Centennial Coal Company acquired 90% of the Energy’s interest costing the company to invest $18.8 million.

The company then purchased the Oakbridge’s Clarence Colliery and the economic interest of Japan’s GC Springvale in 2000. This company owned 50% of the Springvale Mine located near Lithgow.

In 2002, the assets of Powercoal were acquired by CEY under an indexed price and long-term contract. Powercoal is the largest supplier of energy coal to the power stations in New South Wales. The assets that were purchased by CEY included two substantial development mines, and seven underground coal mines all located in New South Wales.

In 2004, Centennial Coal Company 45% of its interest in Cook and in 2005, CEY acquired the coking coal mine of Tahmoor resulting to a take over of the company to the mine. Also in the same year, CEY purchased and acquired the GigaLink and Bargo Collieries.