CHINA Shenhua Energy Co said a report that its parent China Shenhua Group may buy a stake of as much as a 10 percent in Anglo American Plc isn't "very close to the truth."

"We have plans to buy assets in Indonesia, Mongolia and Australia," Wang Jinli, a vice president at Hong-Kong listed China Shenhua Energy, said.

"We are always in talks for overseas acquisitions."

A 10 percent stake would be worth about US$8.66 billion, the South China Morning Post reported.

Wang said yesterday the listed company planned to buy assets valued at about 10 billion yuan (US$1.4 billion) from its parent, including mines in Inner Mongolia, according to Bloomberg News.