Whitehaven Coal has confirmed it is in talks to buy the Daunia and Blackwater coking coal mines in Queensland off the BHP Mitsubishi Alliance.
Whitehaven temporarily suspended its share buy-back program at its profit results last month.
It said on Monday morning it was considering using the excess capital for growth opportunities.
In an ASX release, they said “Whitehaven confirms that those opportunities include the Daunia and Blackwater mines.”
The two coal mines in central Queensland are expected to be worth upwards of $4.7 billion.