Yancoal Australia has agreed to buy an 80 percent stake in Queensland’s Kestrel coal mine for up to US$2.4 billion, securing one of the country's most productive steelmaking coal assets.
Under the binding agreement, announced on April 14, Yancoal will acquire the controlling interest from a consortium led by private equity firm EMR Capital and Indonesian miner Adaro Energy.
Japan's Mitsui Coal will retain the remaining 20 percent interest in the joint venture.
Located 40 kilometres north of Emerald in the Bowen Basin, Kestrel is currently the largest producing underground coal mine in Australia, generating 5.9 million tonnes of saleable coal in 2025.
The asset boasts a 25 year mine life, underpinned by 164 million tonnes of marketable reserves, and sits in the top 35 percent of the global seaborne metallurgical supply margin curve.
