Indian firm GVK Power and Infrastructure has entered into a transaction to acquire a majority stake in Hancock Coal’s assets in Queensland, Australia, for $1.26bn.

Under the transaction, GVK will acquire a 79% stake in the Alpha and Alpha West coal projects located in the Galilee basin and a 100% shareholding in Kevin’s Corner coal project, located adjacent to the Alpha coal project.

The acquisition will be made through Singapore-based GVK Coal Developers, an indirectly owned subsidiary of GVK Natural Resources.

GVK will also purchase a 100% shareholding in the proposed rail project connecting the coal projects to the port of Abbot Point and in the proposed port expansion project to export the coal.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Mining Technology Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Mining Technology Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now