Overview
- Yancoal Australia agreed to buy the stake from EMR Capital and Adaro for $1.85 billion upfront plus up to $550 million tied to coal price benchmarks, with Mitsui keeping its 20% holding.
- The companies said they expect approvals to allow closing toward the end of the third quarter of 2026, and they are coordinating a smooth handover for staff.
- Yancoal said Kestrel will add premium metallurgical coal used to make steel and deepen the company’s presence in that market.
- Kestrel produced 5.9 million tonnes in 2025 and has an expected mine life of about 25 years, exporting mostly through the port of Gladstone.
- Yancoal, which is majority owned by China’s Yankuang Energy Group, is taking over an operation near Emerald that employs more than 800 people, drawing praise from Queensland officials and criticism from environmental groups.