China, India Seeking Coal From South Africa, Universal Says

China and India, Asia’s two fastest-growing economies, are seeking to invest in coal assets in South Africa to diversify supplies after disruptions in output from Australia and Indonesia, said Universal Coal Ltd.

“China gets most of its coal from Australia, but because of the floods in Queensland, you’ll need time and money to rebuild that,” said Tony Harwood, chairman of the Sydney-listed developer of South African coal mines. “A new major market for coal from South Africa is India.”