Whitehaven Coal and Aston Resources have agreed to form the next major force in Australian coal. The deal will create a $5.1 billion player with the muscle to rival that of Macarthur Coal and New Hope, the former of which has been snapped up by US giant Peabody Energy, while the latter is currently in the midst of a sales process. Elsewhere in coal, the late Ken Talbot's investment company has found a preferred bidder for its Mozambique deposit, while in uranium Extract Resources is a crucial step closer to a Chinese bid. Meanwhile, valuations for the NSW desalination plant privatisation will have to be tweaked, AMP Capital has capped off a historic year with a Japanese alliance and reports are firming that Kerry Stokes has picked up a piece of Ten Network.
Whitehaven Coal, Aston Resources