09/08/2007
James Foo, whose father Kevin runs Russia and Kazakhstan-focused gold group Celtic Resources, is doing his bit to keep the resource markets humming. A lawyer, James has set himself up in Mumbai to source desperately needed coking coal for India’s hungry steel mills.
Australian miner George Salamis of Caledon Resources, like Celtic quoted on AIM, has big coking coal deposits in Queensland and might expect a call. Kevin, himself an Australian with Thai connections and an old hand in central Asian mining, says he lent James $20,000 to start up his Indian venture.
‘I haven’t got any of it back yet,’ he reflects philosophically.
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