Rio Tinto has again backed Yancoal as the buyer of its Hunter Valley thermal coal assets despite Glencore’s efforts to outbid the Chinese company.
Rio Tinto has named China’s Yancoal as the preferred buyer of its Hunter Valley coal division, Coal & Allied Industries, ahead of Glencore, which made a superior bid earlier this month.
Services company Whittens has been awarded a $22 million contract by G&S Engineering Services at MACH Energy’s Mount Pleasant coal mine in the Hunter Valley region of New South Wales.
The Australian mining marketplace is watching for Rio Tinto’s response to Glencore’s attempt to trump Yancoal Australia’s $US2.45 billion ($3.23 billion) offer for its coal operations in New South Wales.
Yancoal has launched a $US710 million ($946.9 million) offer for Mitsubishi’s stake in its Hunter Valley Operations Joint Venture (HVO JV) with Rio Tinto in New South Wales.
Chinese-controlled Yancoal has secured Australian Government approval for a $US2.45 billion ($3.2 billion) acquisition of Rio Tinto’s Hunter Valley coal division in New South Wales.
Ausdrill subsidiary BTP Equipment has secured a $70 million contract extension at Peabody Energy’s Hunter Valley and Bowen Basin coal operations.
Anglo American’s expansion plan for the Drayton South coal operation in the Hunter Valley region of New South Wales has again been knocked back.
The number of mining deals in Australia is rising, according to Ernst & Young’s (EY) third quarter global mining and metals M&A activity report.
NSW Minerals Council CEO Stephen Galilee outlines coal’s future, and where it may lead the Hunter Valley.
The Hunter region has recorded rise in coal exports year on year, despite a drop in price.
Initial bids for Glencore’s Hunter Valley rolling stock and haulage assets are rolling in.
Glencore has announced it intends to sell its Hunter Valley coal rail assets.
Yancoal’s Donaldson coal operation will go into care and maintenance from June this year, in response to the global commodity downturn.
The planned large rail terminal and business park in the industrial area of Rutherford are currently under environmental investigations.
Rail freight in the Hunter Valley between Newcastle and Maitland remains shut down due to heavy flooding at Sandgate, impacting on coal transport in the region.
Rail lines have been closed between Newcastle and Maitland, leaving coal services on the Hunter Valley line temporarily suspended.
The Planning and Assessment Commission will today determine if Vale will be allowed to change its environmental conditions of consent for the Integra Mine Complex.
Mineworkers at Drayton South have protested against the knock-back of planning for an expansion to the Hunter Valley coal mine.
An expansion of Yancoal’s Ashton South East open cut coal mine will not go ahead after their appeal against environmental conditions was dismissed by the NSW Supreme Court.