Aquila, Vale settle legal dispute

Aquila Resources (AQA) and Vale S.A.'s subsidiary Bowen Central Coal have resolved a legal dispute regarding their Bowen Central Coal joint venture (BCC JV), that will now see the parties work together to complete the construction of the Eagle Downs hard coking coal project.

Aquila's subsidiary Aquila Coal 50% owns the JV with Bowen Central Coal.

Aquila said it was pleased "to announce that Aquila has reached agreement with Vale for the settlement and release of each party from all legal proceedings and claims made between them relating to the BCC JV".

"Each party will bear its own legal costs in the proceedings and the settlement is unconditional and immediately effective," the group said.