Whitehaven In Discussions With Aston Resources On Merger
05 Décembre 2011 - 12:12AM
Dow Jones News
Australian coal miners Whitehaven Coal Ltd. (WHC.AU) and Aston
Resources Ltd. (AZT.AU) are in discussions over a potential merger,
Whitehaven said Monday.
The merger would lift the two miners to the first rank of
Australian coal producers. Whitehaven plans to be mining 15 million
metric tons a year by 2015 while Aston hopes to build up to 12
million tons a year by the same date, giving the two miners
combined output comparable to that of Peabody Energy Corp.'s (BTU)
Australian operations, which accounted for 27 million metric tons
in 2010.
In a statement, Whitehaven Managing Director Tony Haggarty said
the discussions are at an early stage and there is no guarantee of
success.
"It is unclear at this stage as to whether the terms of any such
potential transaction would be suitable to put to Whitehaven
shareholders," he said.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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