CAPITAL MARKETS

Vale lets Isaac Plains option lapse

AQUILA Resources expects the $A430 million sale of its half share in the Isaac Plains coal mine in Queensland to the Japanese Sumitomo group to be completed in July after joint venture partner Vale did not take up its pre-emptive right on the stake.

Lau Caruana

Vale lets Isaac Plains option lapse

The decision by Vale not to take up its option within the required 60 days will end a troubled partnership with Aquila Resources on the project, which became marred with difficulty after the JV partners...

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