Wesfarmers considers sale of Premier mine

SYDNEY (AAP) - March 17 - Wesfarmers Ltd says it could sell its Premier coal mine in Western Australia, after receiving several inquires about the asset.
The mine at Collie, 200km south of Perth, is one of three coal mines operated by Wesfarmers.
"There have been a number of enquiries regarding the purchase of the Premier Coal operation," Wesfarmers Resources managing director Stewart Butel said in an emailed statement.
"We feel that this is the right time to look at all options for the business ranging from business as usual to building an export-based operation to a joint venture with another party right through to the potential sale of Premier Coal.
"While expressions of interest in the mine have been called for, all options will be fully investigated before any final decision is made."
Mr Butel said Wesfarmers hoped "to find out how other parties see the Premier Coal value proposition".
"The results of this process will then be evaluated in light of the options identified."
Interest in the Collie Coal Basin has increased after Griffin had its assets put on to the market last year after the company went into administration, Mr Butel said.
Indian infrastructure company Lanco Infratech Ltd earlier this month completed its purchase of the Griffin thermal coal mine for $750 million in what it described as the largest investment by an Indian enterprise in Australia to date.
Coal from the Griffin mine is likely to be sent to Lanco's power stations in India while Premier Coal's annual output of about four million tonnes is a power generation fuel for WA's south-west integrated electricity grid.
Premier Coal employs more than 300 people.