Swiss mining company Glencore has agreed to purchase a 49% stake in Hunter Valley coal industry for US$1.4 billion.
The deal involves Glencore buying a 16.6% stake from Chinese owned Yancoal Australia and plans to buy an additional 32.4% from minority partner Mitsubishi.
The deal is subject to regulators’ approval as well as an agreement from Mitsubishi.
Full Content: The Australian
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