Rio Tinto sale to Yancoal resets mood for Australian coal mine deals

Chinese-owned Yancoal’s (YAL.AX) $2.45 billion purchase of the Coal & Allied division of Rio Tinto (RIO.AX) is setting the stage for more big-ticket coal mining acquisitions in Australia.

Chinese-owned Yancoal’s (YAL.AX) $2.45 billion purchase of the Coal & Allied division of Rio Tinto (RIO.AX) is setting the stage for more┬ábig-ticket coal mining acquisitions in Australia, where more than $10 billion in assets are waiting to be sold.

Deals stalled last year when coal prices rocketed to nearly five-year highs and miners raised their expectations on bids for their assets, but with coal prices in retreat, deals are more likely to get done, merger and acquisition advisers said.

Asian buyers are likely to be in the forefront, they said.

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