Reports emerged on Thursday that diversified miner Glencore has reached an agreement to purchase some of the Hunter Valley assets that ASX-listed Yancoal recently acquired from mining major Rio Tinto.
The reports, carried in several Australian news outlets, comes as Yancoal holding company Yanzhou Coal reported late on Wednesday that its board had approved a resolution to transfer a 16.6% interest in the Hunter Valley operations to a third party, and to establish a joint venture to operate and manage coal mining assets related to these Australian operations.
