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Monday, June 20, 2011

Aquila: court decision due on coal project stake dispute with Vale

Mon Jun 20, 2011 1:36am GMT

MELBOURNE, June 20 (Reuters) - Australia's Aquila Resources put its shares on a trading halt on Monday pending an announcement on a court decision on a dispute with Brazil's Vale on the valuation of a stake it planned to buy in a coking coal project.

The two companies had disagreed over the price Vale should pay for exercising its option to buy Aquila's 24.5 percent stake in the Belvedere coking coal project. (by Sonali Paul, Reuters)

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