Copper $ 5.6358 / lb 2.72%
Brent Crude Oil $ 104.4 / bbl -4.21%
Palladium $ 1496.5 / ozt 5.39%
Crude Oil $ 101.85 / bbl -3.06%
Natural Gas $ 2.89 / Btu 0.10%
Silver Futures $ 75.495 / ozt 7.47%
Aluminum Futures $ 3314.25 / ton -1.21%
Micro Gold Futures $ 4713.1 / ozt 3.80%
Micro Silver Futures $ 75.48 / ozt 7.54%
Platinum $ 1973.85 / ozt 4.22%
Gold Futures $ 4713.3 / ozt 3.84%
Go to MDC Markets

China-backed Yancoal Australia exercises option to up stake in coal mine

Reuters | September 27, 2017 | 10:32 am Energy Asia China Coal 

(Reuters) – China-backed coal miner Yancoal Australia Ltd said on Wednesday it had exercised its option to buy a 29 percent stake in the Warkworth operation from Japan’s Mitsubishi Corp for $230 million.

The agreement brings Yancoal’s stake in the Warkworth project to about 85 percent, it said in a statement.

The project, which was part of a bidding war between Yancoal and commodity trader Glencore PLC, was snatched up by Yancoal earlier this year as part of its acquisition of Rio Tinto’s Coal & Allied unit.

Comments

No comments found.

More News

{{ commodity.name }}