CONSTRUCTION, Forestry, Mining and Energy Union (CFMEU) says that it is pleased that the merger failed because it would have met resistance from coal buyers.
CFMEU spokesperson says that buyers wouldn’t have liked another large company controlling a fair chunk of the coking coal sold on the market each year.
Xstrata had approached Anglo America with an amalgamation proposal but Anglo's board decided it was not in its best interests and Xstrata's terms were unacceptable.
Add a comment