Yancoal Australia has confirmed its purchase of Mitsubishi Development’s 32.4% stake in the Hunter Valley coal mining division, which has become subject of a bidding war between Yancoal and Glencore. The Chinese-controlled firm will pay a total of US$940 million for Mitsubishi’s minority interest in the...
An unexpected bidding war is set to play out for Rio Tinto’s Coal & Allied assets in Australia, as Glencore came in with a bid of US$2.55 billion for the Hunter Valley coal mining division. Chinese-controlled firm Yancoal Australia submitted a successful bid of $2.45 billion...
Yancoal Australia (ASX:YAL) has made a US$710 million offer to Mitsubishi Development for its 32.4% interest in the Hunter Valley Operations joint venture, as it bids to become Australia's largest singular coal producing company. The majority Chinese-owned group was obliged to make a tag-along offer to...
Metals and mining giant Rio Tinto (ASX:RIO) has announced the sale of its Hunter Valley coal mining division Coal & Allied to Yancoal Australia Ltd (ASX:YAL) for US$2.45 billion. An initial $1.95 billion cash payment will be made to the Australia-based, Chinese-controlled firm, followed by $500...