Xstrata Assumes Control of Tahmoor in Australia

Xstrata Coal recently announced the successful acquisition of a majority shareholding (85.85%) in Austral Coal, via its subsidiary Helios Australia, following Centennial Coal’s acceptance of its cash offer of A$1.83 per share, valuing Austral at approximately A$557M on a fully diluted basis (US$510M).

Xstrata Coal now assumes management control of Austral’s Tahmoor underground mine, an underground longwall hard coking coal operation in the southern coalfields of NSW. Tahmoor produced approximately 2.3million mt during the last financial year. Itexports coal via Port Kembla, near Wollongong.

As featured in Womp 07 Vol 8 - www.womp-int.com