World’s largest thermal power exporter to sell stake in $6.4bn coal project

Xstrata PLC, (LSE:à‚ XTA,à‚ SIX:à‚ XTAN) the world’s largest thermal-coal exporter by volume, may sell part of its proposed six billion Australian dollar (US$6.44bn) Wandoan project in Australia, which aims to be a key supplier to Asian power generators.

The Wall Street Journal reports that the company is offering to sell a 20 per cent stake in the planned mine, according to reports.

Xstrata owns 75 per cent of Wandoan in Queensland state’s Surat Basin and is seeking to share development risk with a new strategic partner.

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