India’s GVK To Divest Coal Mines Stake

India’s GVK Group is in discussion with Indonesia’s PT Kideco Jaya Agung to sell a part of its majority stake in the Hancock coal project in Australia, The Wall Street Journal reports, citing Mint. Kideco is also eying the mine development operatorship of the project.

The GVK group bought a $1.26 billion majority stake in the project in Queensland, Australia last week. It includes a 79 percent ownership in the two Alpha mines, full ownership of the Kevin Corner mine and full ownership of the continuing rail and port projects linking the Hancock coal projects.

Click here for the story from The Wall Street Journal.