Yanzhou Coal Mining Company’s (600188, 1171.HK) controlling subsidiary in Australia plans to acquire 100-percent stakes in two unspecified Australian coal companies in Queensland for AU$203 million to optimize its asset combination, reports yicai.com, citing a company filing. The proposed transaction was approved by the National Development Reform Committee.

The target firms mainly hold stream coal, with total reserve of 1.73 billion tons.

Source:CapitalVue