According to The Australian Financial Review, owners of Queensland’s lucrative Kestrel coking coal mine say they will put the operation on the market, kick-starting a multibillion-dollar auction and escalating the deal fever that has swept the sector over the past year.
Kestrel is Australia’s sixth-largest coking coal mine, according to analysts at resources consultancy Wood Mackenzie, and generated $1.26 billion of cash flow from operations and $474.5 million of net profit in the past two years. The mine in the Bowen Basin is 42 per cent owned by EMR Capital, a private equity firm that specialises in resources, while major Indonesian coal group Adaro holds 38 per cent. The rest is owned by Japan’s Mitsui. They purchased the mine from Rio Tinto in 2018 for $2.9 billion. https://www.afr.com/companies/mining/emr-capital-puts-queensland-s-kestrel-coal-mine-up-for-mega-auction-20241017-p5kj58
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