Aston Resources Ltd and Whitehaven Coal Ltd are in talks over a potential 4.65 billion Australian dollar (US$4.76 billion) merger, the Australian coal miners said.
The Australian miner Whitehaven plans to be mining 15 million metric tons a year by 2015 while Aston aims to build up to 12 million tons a year by the same date, the reports said.
Whitehaven Managing Director Tony Haggarty said the discussions are in early stages and there is no guarantee of success. He also said, “It is unclear at this stage as to whether the terms of any such potential transaction would be suitable to put to Whitehaven shareholders.”
The Australian miner Aston Resources said that it is still committed to existing plans for growth of the company on a standalone basis but is also looking at other options.
Aston Resources is an independent coal mining company that wholly owns the Maules Creek project in New South Wales. This project is one of the last major underdeveloped and important multi-seam coal deposits in New South Wales.
Whitehaven is the largest and established coal producer in Gunnedah basin and is listed on the Australian Securities Exchange ASX:WHC. It has an 11% interest in the Newcastle Coal Infrastructure Group which is developing a new coal export terminal at the Port of Newcastle.
