Coal Investing News » 13 Coal Miners Bid $4.85 Billioln for Queensland Rail Network

13 Coal Miners Bid $4.85 Billioln for Queensland Rail Network

May 26, 2010 @ 6:06 pm In Coal Market News

13 coal producers, including BHP Billiton ^[1] and Rio Tinto made a fully funded offer of A$4.85-billion to buy the Queensland Rail (QR) coal track network.

Nick Greiner, the chairperson of the Queensland Coal Industry Rail Group (QCIRG) is quoted saying:

"Our offer is able to be settled with the government prior to the IPO, and will not be dependent on volatile equity markets, removing major risk for the state while also providing early settlement."

Click here to access the entire news ^[2]

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URL to article: http://coalinvestingnews.com/1449/13-coal-miners-bid-4-85-billioln-for-queensland-rail-network/

URLs in this post:

[1] BHP Billiton: http://www.bhpbilliton.com/bb/home.jsp

[2] Click here to access the entire news: http://www.miningweekly.com/article/coal-miners-bid-a485bn-for-queensland-rail-network-2010-05-26