M Resources, GEAR plan funding round after $1.65bn coal mine buy, source says

Australian coal trader M Resources and Singapore's GEAR plan a funding round after their $1.65-billion purchase of South32's Illawarra metallurgical coal operations, a source familiar with the matter said. Golden Energy and Resources (GEAR), owned by the Indonesian Widjaja family, will hold 70% of the Illawarra business, while privately held M Resources will own the rest.