SUBSCRIBERS
Yancoal plans US$2.5b equity raising for Rio Tinto coal mines
Published Wed, Aug 2, 2017 · 09:50 PM
Sydney
CHINA-BACKED Yancoal Australia Ltd will raise US$2.5 billion in equity to fund the purchase of Rio Tinto Group's Australian coal assets, with its parent Yanzhou Coal Mining Co tipping in US$1 billion.
Glencore plc, which will jointly operate some of Rio's Coal & Allied operations in the Hunter Valley with Yancoal, will contribute US$300 million.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard
Gold trades in tight range as market focuses on US economic data