Bidders rally around Kangaroo project
Kangaroo Resources is selling a prime coal asset in Indonesia, proceeds of which will fund some very promising projects in other areas of the country.
Coal deals aren’t just coming thick and fast in Australia. Recent agreements by Riversdale Mining to sell part of its Mozambique project to Chinese steel maker Wuhan Iron and Steel (Group) Corp and by US miner INR to sell itself to Cliffs Natural Resources are examples of transactions occurring in other parts of the world.
In that vein, locally listed Kangaroo Resources is testing the appetite for a potential sale of its GPK thermal coal mine in Indonesia. (GPK shipped its first coal in January.)
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