03
Aug
10:48
Yancoal issues equity for Australian acquisition, Noble unhappy
China’s Yanzhou Coal (Yancoal) says its subsidiary, Yancoal Australia, aims to raise $2.5 billion in equity to raise cash for its agreed purchase of coking coal assets from Rio Tinto. The acquisition of Coal & Allied will add more than 25 million tonnes/year of thermal and semi-soft coking coal capacity, Kallanish notes.
Yancoal has agreed to buy shares to the value of $1 billion in its Australian subsidiary as part of the arrangement. Glencore, w…
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Very good overview of the weekly steel market.
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