Yancoal Australia to acquire 10% stake in Moolarben Coal JV from Sojitz for A$300m.

Yancoal Australia’s wholly owned subsidiary, Yancoal Moolarben, has entered into a binding agreement to purchase 10% stake in the Moolarben Coal Joint Venture - currently owned by Sojitz for A$300m in completion and deferred cash payments. Yancoal views the proposed acquisition as an attractive opportunity to increase its participating interest in the Moolarben JV from 85% to 95%. The immediate benefit will be the increase in attributable revenue, which Yancoal will consolidate into its financial results from this low cost, tier-1 asset; and with potential for the Moolarben JV to increase its production profile in the future, subject to ongoing work with external stakeholders.