The Competition Commission of India (CCI) has approved Yancoal Australia Ltd’s acquisition of 100% equity interest and warrants in Kestrel Coal Group Pty Ltd from EMR Capital and other sellers.

Yancoal Australia, listed on the Australian Securities Exchange and Hong Kong Stock Exchange, primarily produces thermal coal from mines in New South Wales, Queensland and Western Australia, along with a smaller volume of metallurgical coal.

Kestrel Coal Group holds an 80% interest in the Kestrel Joint Venture, which owns and operates the Kestrel Coal Mine in Queensland. The mine mainly produces metallurgical coal, along with a limited quantity of thermal coal.

Both the acquirer and target have no physical operations in India. Their India-related activities are limited to exports of thermal and metallurgical coal, including sales of Kestrel’s metallurgical coal into the Indian market.