Friday, August 21, 2009

Yanzhou Coal Plans to Acquire Felix Resources in Australia

Yanzhou Coal Mining Co., the fourth largest coal producer in China, plans to acquire Felix Resources Ltd. in Australia for approximately A$3.4 billion ($2.9 billion) to increase its coal reserves. Felix Resources owns the Yarrabee, Minerva and Ashton mines and a stake in the Newcastle coal port in Australia.

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