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Yancoal completes acquisition of Coal & Allied

Published by , Editorial Assistant
World Coal,

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.”

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