Lee Kwang-ho confirmed that STX was considering such a move but didn't provide further details.

South Korean online news provider edaily early today quoted industry sources as saying STX was planning to acquire a stake of at least 10 per cent in a coal mine in Queensland through a consortium with state-run utility Korea Electric Power Corp.

STX Group is looking for new growth engines to expand beyond its shipbuilding and shipping businesses and move into energy exploration and plant construction, he said.

Sourced from www.theaustralian.com.au