<article>Australian resources specialist private equity firm <a href="https://www.dealstreetasia.com/?s=EMR%20Capital">EMR Capital</a> has announced its acquisition of Kestrel coking coal mine in Australia&#8217;s Bowen Basin from mining group <a href="https://www.dealstreetasia.com/?s=Rio%20Tinto">Rio Tinto</a>.</article>

Australian resources specialist private equity firm <a href="https://www.dealstreetasia.com/?s=EMR%20Capital">EMR Capital</a> has announced its acquisition of Kestrel coking coal mine in Australia&#8217;s Bowen Basin from mining group <a href="https://www.dealstreetasia.com/?s=Rio%20Tinto">Rio Tinto</a>.
In a statement, EMR Capital said it has completed its acquisition of Rio Tinto&#8217;s 80 per cent interest in the coal mine in the Bowen Basin, Australia&#8217;s major coal producing region. Financial details of the acquisition were not disclosed but an earlier report said it was worth $2.25 billion.
The acquisition was made by EMR through a binding agreement with <a href="https://www.dealstreetasia.com/?s=Adaro%20Energy">Adaro Energy</a>, one of the world&#8217;s largest coal producers. Both EMR and Adaro will manage and operate the Kestrel mine.
In 2017, the mine produced 4.25 metric tonne of hard coking coal. The site had marketable reserves of 146 metric tonne and resources of 241 metric ton as of December 2017.
“Coking coal is one of our four core commodities and offers excellent demand and supply fundamentals decades into the future,” according to Jason Chang, Chief Executive Officer of EMR.
Chang added that the acquisition will &#8220;substantially enhance the value, and depth of EMR’s coking coal portfolio&#8221;.
Kestrel coking mine adds to EMR&#8217;s global portfolio. It now has 10 operations worldwide, including two coking coal investments.
The Australian private equity has linkages to Asian markets and has a focus on assets in copper, gold, potash, and coking coal that it looks to acquire globally.
The firm closed its second private equity fund earlier, EMR Capital Resources Fund II, at $860 million (AU$1.12 billion) and also purchased Golden Grove, a copper-zinc mine in Western Australia last year.
In June, EMR Capital announced the acquisition of the Cerro Colorado copper mine in Chile from global miner BHP Billiton.
According to an official release, the financial terms of the deal include a payment of $230 million to be paid after closing subject to customary closing adjustments, plus approximately $40 million in proceeds from the post-closing sale of certain Cerro Colorado copper inventory.
Furthermore, there will also be a contingent payment of up to $50 million to be paid in the future, depending upon copper price performance.
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Australian resources specialist PE firm EMR Capital has announced its acquisition of Kestrel coking coal mine in Australia’s Bowen Basin from mining group Rio Tinto.

Australian PE firm EMR Capital completes acquisition of coal mine from Rio Tinto

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Australian PE firm EMR Capital completes acquisition of coal mine from Rio Tinto

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