US EditionYancoal Australia to Buy 80% Stake in Kestrel Coal Mine for up to $2.4 Billion
The mine produced 5.9 million tonnes in 2025 and has about 25 years of life left, Yancoal said.
- On Wednesday, Yancoal Australia Ltd announced it will acquire an 80% interest in the Kestrel Coal Mine near Emerald, Queensland, for $2.6 billion upfront, with the China-linked company majority-owned by Yankuang Energy Group.
- Rio Tinto sold the mine to the current consortium of EMR Capital and Adaro Energy in 2018 for $2.9 billion; Yancoal is now purchasing their stake while Japan's Mitsui Coal retains its 20% interest.
- Kestrel produced 5.9 million tonnes of metallurgical coal in 2025 and is expected to operate for another 25 years, employing more than 800 people and exporting primarily to Asia via Gladstone.
- Yancoal Chief Executive Sharif Burra described the purchase as a "strong strategic fit" capitalizing on sustained steel demand in Asia, while Queensland Mines Minister Dale Last called the transaction "another major vote of confidence."
- Queensland Conservation Council acting director Anthony Gough opposed the sale, citing federal modelling predicting Australian coal exports will fall about 50 per cent by 2035, while Yancoal will pay up to $771 million in contingent payments over five years if coking coal prices rise.
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16 Articles
China-Linked Firm Takes Majority Stake in Queensland Coal Mine
A China-linked group is buying a majority stake in Australia’s largest underground coal mine in a deal worth US$2.4 billion ($3.4 billion) to boost its portfolio. The stock exchange-listed Yancoal Australia, majority owned by China’s Yankuang Energy Group, will pay US$1.85 billion ($2.6 billion) upfront for an 80 percent stake in the Kestrel coking coal mine northeast of Emerald in central Queensland. Yancoal will also make up to US$550 million …
Yancoal Australia to buy 80% stake in Kestrel coal mine for up to $2.4 billion
Yancoal Australia , said on Tuesday it has agreed to acquire an 80% stake in the Kestrel coking coal mine in Queensland for up to $2.4 billion, a move that strengthens its position as one of the country's largest coal miners.
China’s Yancoal Buys Australia Mine Stake for Up to $2.4 Billion
Chinese-controlled Yancoal Australia Ltd. agreed to acquire an 80% stake in the Kestrel coking coal mine in Queensland from a venture between EMR Capital Advisors Pty and Adaro Capital Ltd. for as much as $2.4 billion.
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