Mineral coal is extracted from the Rio Turbio Coal Company mine in Rio Turbio, Argentina, on Oct. 2, 2025. Walter Diaz/AFP via Getty Images
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 $US1.85 billion ($2.6 billion) upfront for an 80 percent stake in the Kestrel coking coal mine northeast of Emerald in central Queensland.
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