Czech company Sev.en Global Investments stalks coal assets after power, potash spending spree

Little-known Czech outfit Sev.en Global Investments is in talks to buy coal mines in Australia to further broaden its portfolio in “traditional” mining and energy after snapping up the Vales Point coal power station in NSW and a potash project in Western Australia in a spending spree last week.

Sev.en is the largest privately held owner and operator of coal-fired power plants and their adjacent coal mines in the Czech Republic and also owns generators in the UK, and coal mines in the US.

Mr Svoboda said Sev.en was involved in formal and informal processes to potentially buy metallurgical and thermal coal mines as it looks to further expand in Australia, where it is in the final stage of appointing a country manager.

The deal has triggered speculation that Sev.en may look to extend the life of Vales Point past 2029, especially as other owners of coal-fired power stations have elected to close plans early.

But Mr Svoboda said Sev.en had no plan to shut Vales Point earlier or later.

Mr Svoboda said though Sev.en had not previously owned potash assets, the commodity was global, like thermal and metallurgical coal, and a natural resource that required the same sort of mining expertise, logistics and distribution

Mr Svoboda said as the new owner of Vales Point’s Delta Electricity, Sev.en would also consider expanding in electricity retailing to business and commercial customers, and to continue with proposals for a large solar power plant at the site