Australia’s Gloucester Coal Merger with China’s Yancoal Australia OKd

By International Business Times,  June 04, 2012, 01:38:47 AM EDT

Australia may yet have its biggest independent listed coal miner after shareholders of Gloucester Coal gave their unanimous approval today to its proposed merger with China's Yancoal Australia.

Both coal companies, as far as December 2011, have expressed agreements to a potential tie-up which will combine the Ashton mine of Yancoal Australia with the coking and thermal assets of Gloucester Coal. Ashton mine is located in the Hunter Valley of NSW, while Gloucester Coal's coking and thermal assets are also found in the same state and also in Queensland.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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