Yancoal Australia Limited has completed its acquisition of Coal & Allied Industries Limited from Rio Tinto, asserting its status as a business leader within the Australian resources sector.
Yancoal Chairman Xiyong Li said, “Today is a significant achievement for Yancoal Australia and redefines our business as a leader within the Australian resources sector and a major competitor throughout international coal markets.”
Yancoal Chief Executive Officer, Reinhold Schmidt, said, “The completion of the strategic acquisition of Coal & Allied is a credit to the Yancoal team and will provide new opportunities for continued growth.
“We look forward to maximising significant operational synergies from the combination of Coal & Allied’s world-class assets with our existing portfolio.”
Read the article online at: https://www.worldcoal.com/mining/01092017/yancoal-completes-acquisition-of-coal-allied/