Malabar Coal has acquired Anglo American's controlling interest in the Drayton mine assets, Street Talk can reveal.
Drayton's infrastructure is expected to complement Malabar Coal's Spur Hill underground coking coal project, sources said.
The purchase of the 88.17 per cent interest will be announced on Friday.
Malabar Coal chairman Wayne Seabrook said that by using the existing infrastructure the company can realise efficiencies and, "most importantly, reduce the impact of its operations on the local community, neighbours and the environment".
More to come
