Yancoal buys further stake in Warkworth coal mine for $230m

ASX-listed Yancoal Australia has exercised a call option to purchase Mitsubishi Development’s 28.9% interest in the Warkworth coal joint venture (JV) for $230-million. The deal followed Yancoal’s $2.69-bilion acquisition of mining major Rio Tinto’s Coal & Allied subsidiary, which included a 67.6% stake in the Hunter Valley Operations mine, an 80% stake in the Mount Thorley mine and a 55.6% stake in the Warkworth mine, as well as a 36.5% interest in Port Waratah Coal Services, which owns a coal export terminal at the Port of Newcastle.