On December 4, China-based Yanzhou Coal Mining announced that it has received official approval from the Chinese authorities to take over Australian coal mining company Felix Resources.
According to Yanzhou Coal Mining's bulletin on the Hong Kong Stock Exchange, on December 3 China's National Development and Reform Commission approved the company's bid to acquire a 100 percent stake in Felix Resources.
In August this year, Yanzhou Coal Mining signed an agreement with Felix Resources for the acquisition of 100 percent of the Australian company for AU$3.33 billion (about RMB 18.951 billion), i.e, at a price of AU$16.95 per share.