The Australian Foreign Investment Review Board (FIRB) has given its approval for the purchase of a 100% stake of Coal&Allied Industries Ltd. which owns a 67.6% interest in the Hunter Valley Operations mine (HVO), a 80% interest in the Mount Thorley and a 55.6% in the Warkworth mine (MTW) from Rio Tinto. The acquisition will be completed in Q3 2017. The company also has a 36.5% share in the Port Waratah Coal Services facilities, a coal exportation terminal located in Newcastle (Australia).
The transaction is still subject to shareholder approval from Rio Tinto Ltd. and Yanzhou Coal Mining Company shareholders.
The HVO operations are based in the Hunter Valley, New South Wales (Australia) and produced around 13 Mt in 2015, mostly semi-soft coking coal and thermal coal. As of December 2015, the mine reserves amounted 890 Mt.
The MTW operations are located in the Hunter Valley, New South Wales, and had an output of 11.7 Mt of coal in 2015, mostly semi-soft coking coal and thermal coal as well.
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