Aurizon scopes coal terminal purchase

Company News

by Jessica Ellerm

Aurizon Holdings (ASX:AZJ) has confirmed it is in preliminary discussions with a number of parties in relation to acquiring the Wiggins Island Coal Export Terminal.

As part of a consortium proposal, Aurizon would acquire the terminal, while other members would acquire one or more of the terminal’s source mines.

Through a restructuring and proposed introduction of lower, market-competitive port changes, Aurizon and the consortium would look to create an incentive for miners to increase throughput at the port.

The company has indicated discussions with all interested parties are at an early stage, with no certainty a transaction will result.

Shares in Aurizon Holdings (ASX:AZJ) last traded 0.38 per cent higher at $5.24.
 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.