Reuter, citing two sources with direct knowledge of the matter, reported that Vedanta Resources is considering a bid for New Hope Corp, the AUD 5 billion Australian coal miner that has put itself up for auction.

As per report, Vedanta has held discussions with banks and is expected to appoint advisors soon.

The source said “We are yet to begin formal talks.”


New Hope is among the last few major coal companies left in resource-rich Australia after a flurry of recent takeovers consolidated the industry.

Among those interested in the Queensland based thermal coal producer are
1. TATA Group
2. Aditya Birla Group
3. JSW Steel
4. Yanzhou Coal Mining Co Ltd
5. Xstrata.

(Sourced from Reuters)