Whitehaven Coal Limited (ASX:WHC) is a coal producer in the Gunnedah Basin. The Company is engaged in the development and operation of coal mines in New South Wales. Whitehaven operates five mines in the region: Narrabri (underground), Rocglen (open cut), Sunnyside (open cut), Tarrawonga (open cut) and Werris Creek (open cut). The company is listed on the Australian Stock Exchange and is part of the S&P/ASX 200.
Whitehaven Coal and Aston Resources have reached an agreement that will create the largest strictly coal producer in Australia.
The deal, in which WHC offers 1.89 of its shares for each of Astons share, will create a company with a market value of approximately $5.1 billion.
The merger which has been billed by the companies as merger of equals has the unanimous support of both Aston’s and Whitehaven’s boards.