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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Yancoal Australia Ltd | ASX:YAL | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.02 | 6.02 | 6.04 | 6.09 | 5.97 | 6.05 | 1,300,032 | 09:50:00 |
From Jun 2019 to Jun 2024
By Rory Gallivan
LONDON--Commodities giant Glencore PLC (GLEN.LN) is buying a 49% stake in an Australian coal mine from its Chinese owners a month after failing in a bid to buy the operations outright from Rio Tinto PLC (RIO.LN).
Glencore said Thursday that it will pay Yancoal Australia Ltd $1.14 billion plus around $67 million in royalty payments over five years for the stake in the Hunter Valley Operations coal mine in New South Wales.
Glencore and Yancoal will form a joint venture to operate the mine.
Rio Tinto last month rebuffed a $2.5 billion offer for the mine by Glencore and recommended that shareholders approve a previous $2.45 billion bid by Yancoal, which is part of the Yanzhou Coal Mining Company.
Glencore shares at 1146 GMT, up 3 pence, or 1%, at 333 pence valuing the company at 47.95 billion pounds ($63 billion).
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan
(END) Dow Jones Newswires
July 27, 2017 08:17 ET (12:17 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
1 Year Yancoal Australia Chart |
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