MENU

Yancoal Australia Ltd share price rockets 40% higher

Much to the delight of its shareholders, the Yancoal Australia Ltd (ASX: YAL) share price has been the best performer on the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) today.

In afternoon trade the coal miner’s shares are up 40% to 38 cents.

Why has it jumped?

This morning the company announced that Rio Tinto Limited (ASX: RIO) shareholders have approved the sale of its Coal & Allied business to Yancoal for US$2.45 billion.

Rio will also receive $240 million via unconditional guaranteed royalty payments, payable over five years.

According to today’s release, Yancoal expects the acquisition to complete in the third quarter. When it does it will make the company the largest pure-play coal producer in Australia.

The coal miner’s shares have now gained in excess of 340% in the last 12 months.

The Rio Tinto Limited share price is flat on the news.

Are you planning on a blue-chip retirement?

If term-deposit rates stay low your lifestyle expectancy could stay low with them.

But you must act now. This updated report is available for a limited time only, and your copy is 100% FREE. So don’t miss out!

At The Motley Fool we know share markets can be volatile with President Trump and the great unknown of China front and centre. So we’ve handpicked 5 of our favorite term-deposit-crushing dividend shares to make your savings work for you.

Simply click here to receive your free copy of "Our top 5 ASX higher income shares for financial year 2018" right now.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now