Yancoal Australia Ltd. entered into an agreement to acquire an 80% interest in the Kestrel coal mine by purchasing its holding company from EMR Capital and Alamtri Resources Indonesia in a transaction valued at up to $2.4 billion. The remaining 20% is held by Mitsui & Co.
Kestrel is a longwall mining operation that produces about 7.5 million metric tons of metallurgical grade coal annually.
The company said that adding the Kestrel mine to its portfolio will increase Yancoal’s scale and affirm its leading position among Australian coal producers in the Bowen Basin, given that Kestrel is located near the company’s existing Middlemount JV and Yarrabee operation.
“Kestrel delivers increased scale and diversification to Yancoal’s portfolio and is expected to contribute premium metallurgical coal into our product mix,” said Yancoal CEO Sharif Burra.
Completion of the acquisition is targeted for the end of Q3 2026.
Source: www.coalage.com
