Marubeni and Sojitz Develop Lake Vermont Coal Mine in Australia

Marubeni Corporation and Sojitz, Japanese major business houses, announced on Wednesday both companies determined a development project of Lake Vermont coal mine in Australia in cooperation with Queensland Coal Mine Management Pty Ltd. (QCMM) in Australia and American Metals & Coal International, Inc. （AMCI）in USA. Lake Vermont is a large open cast mine with deposit of 93.2 million tonnes. Investment for the co-development totals 24.8 billion yen to start operation in January-March 2009. The mine is expected to put out high-quality coal for Pulverize Coal Injection at 3-4 million tonnes per year to supply for Japan, Brazil, China and India.Lake Vermont coal mine is located in Queensland and expected to hold deposit of total 160 million tonnes including areas where mining operation is not permitted yet. QCMM is a mining company headed in Queensland in which Marubeni acquired one-third shares at 40 billion yen in September 2007. AMCI is a coal mining company in USA. Lake Vermont coal mine will be controlled by Marubeni with 10% share, while 10% by Sojitz, 10% by AMCI and 70% by QCMM. Marubeni holds 33.33% share including QCMM.