Two South Korean companies have agreed to buy a 7.5 percent stake in a soft coal mine in Australia for some A$125 million ($105.2 million) to secure 1.5 million tonnes of bituminous coal a year, a South Korean newspaper reported.
Korea Resources Corporation and Daewoo International have signed a preliminary deal to buy the stake from Australian coal miner Whitehaven, Maeil Business Newspaper quoted unnamed industry officials as saying in its early Friday edition.
KORES and Daewoo will sign a final deal around the end of this month, the paper added.
Source: Reuters
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