All relevant approvals completed for Aquila’s Isaac Plains stake sale

Thursday, 05 July 2012 17:02:41 (GMT+3)   |  
       

Australian miner Aquila Resources Limited has announced that all relevant approvals have been completed for the sale of its 50 percent stake in the Isaac Plains Coal Mine located in the Bowen Basin region of central Queensland.
 
The 50 percent stake has been sold to Ocean Coal Mining Pty Ltd, a wholly owned subsidiary of Japan-based Sumitomo Corporation, for a total consideration of A$430 million. The sale is expected to be settled in mid-July.
 
As SteelOrbis previously reported, in June this year Aquila Resources received approval from the Australian Foreign Investment Review Board for the sale of its stake, as Brazilian miner Vale had not used its 60-day pre-emptive rights to buy out a 100 percent interest.

Similar articles

Local coke prices in China rise, second round of increases awaited

19 Apr | Scrap & Raw Materials

Coal exports from Queensland up 0.1 percent in March from February

19 Apr | Steel News

India’s coking coal import traffic at ports up 10% in FY 2023-24

18 Apr | Steel News

Ex-Australia coking coal prices increase $25/mt amid better steel market in Asia

17 Apr | Scrap & Raw Materials

Turkey’s coking coal imports increase by 47.9 percent in January-February

15 Apr | Steel News

MOC: Average steel prices in China down slightly during April 1-7

11 Apr | Steel News

Australia’s Stanmore to wholly own Eagle Downs coking coal project

09 Apr | Steel News

Ex-Australia coking coal prices retreat further

05 Apr | Scrap & Raw Materials

Australia expects fall in metallurgical coal prices in 2024

04 Apr | Steel News

Local coke prices in China fall further amid low demand

29 Mar | Scrap & Raw Materials