Category: Yancoal

Can Yancoal raise finances outside China?

Yancoal continues to be dogged by questions about its ability to fund the acquisition of Rio Tinto’s Hunter Coal & Allied assets, despite being confirmed as Rio’s preferred bidder on Tuesday. Yancoal has previously been criticised for not being able to show how it would fund the planned mega-deal. This comes after it was revealed ...

Yancoal mega-deal under threat as Rio Tinto weighs up ‘superior bid’ from Glencore 

Chinese miner Yancoal’s ambitious bid for Rio Tinto coal assets in the Hunter Valley has suffered a major setback, following the surprise announcement of a rival offer from Anglo-Swiss heavyweight Glencore. The Glencore offer of US$2.55 billion for Rio Tinto’s Coal & Allied unit, which includes mines in the Hunter and a major stake in ...

Takeover of Coal & Allied leaves $600 million black hole in finances of China’s Yancoal

Yancoal’s bid for Rio Tinto’s Coal & Allied assets has sparked concern about possible mining job losses in the Hunter Valley associated with a $600 million bid black hole.

Chinese Government considers rules on “irrational” debt-laden deals

The acquisition of Rio Tinto’s Coal & Allied assets by state-owned Chinese firm Yancoal has fallen under much scrutiny over the past few months – and now concerns have been raised about whether the Chinese government will allow the deal to go ahead.

Standard & Poors cast doubt over Yancoal-Rio Tinto deal finances

Financial uncertainty at commodities trader Noble Group, Yancoal’s second largest shareholder, has raised fears that the Chinese coal miner’s deal with Rio Tinto may be unviable.

Yancoal’s funding challenge to pay Mitsubishi for Rio mega-deal

Chinese-state miner Yancoal’s funding problems just got worse, after it offered US$710 million for Mitsubishi’s stake in a coal mine in Australia’s Hunter Valley.

$1.3bn Barrick deal abandoned by China

Shandong Tyan Home, which owns Minjar Gold, told investors via the Shanghai Stock Exchange that negotiations for the deal had to be abandoned due to new capital and acquisition rules in China.

Yancoal’s Australian coal deal clears first regulatory hurdle, but ongoing losses put funding in doubt

Yancoal, a subsidiary of Chinese state-owned Yanzhou Coal, has cleared the first hurdle in its bid for Rio Tinto thermal coal assets in Australia’s Hunter Valley.

Yanzhou: Yancoal Australia still not breaking even

Yanzhou Coal Mining general manager Wu Xiangqian has admitted that, despite market resurgence, Yancoal Australia is still failing to break even.

China must ensure overseas state assets are value for money, Premier says

China’s government is to assess whether its foreign investments are worthwhile, the country’s premier has said. Li Keqiang told a conference that China must do more to ensure that state assets held overseas retain their value and that public funds are used safely. The Chinese government has in recent years dramatically expanded its investments in ...