Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
On Oct. 11, the U.K. government sold a majority stake in Royal Mail Plc, the British postal service, in an initial public offering. Interest from both retail and institutional investors was strong. When the trading frenzy died down, two names emerged with large positions: Lansdowne Partners Ltd. and The Children’s Investment Fund Management UK LLP.
BG Group Plc said it won approval for an Australian liquefied natural gas project that may cost A$15 billion ($13 billion) after the Queensland government completed a review of the environmental impact statement.
Queensland’s state government, inheriting a planned $9 billion ($8.9 billion) coal port expansion from the previous administration, cut the scope of the project, saying it’s too costly and exceeds demand.
The Queensland government remains in talks with a group, including BHP Billiton Ltd ., which the Australian’s newspaper reported today has raised its bid for the state’s coal freight network to A$5.2 billion ($4.8 billion).
BHP Billiton Ltd. and a group of mining companies in Australia scrapped a proposed A$5.1 billion ($4.7 billion) offer for a state coal freight network, which the Queensland government plans to sell to the public this year.