HONG KONG, Dec 31 (Reuters) - Yanzhou Coal Mining Co Ltd <1171.HK> said it will increase its investment in Yancoal Australia Pty Ltd by A$909 million ($923 million), paving the way for a planned listing of the unit in Australia.
The move would boost Yanzhou Coal's total investment in its wholly owned Australian mining unit to A$973 million, the company said in a filing to the Hong Kong stock exchange late on Thursday.
Yanzhou Coal said its Australian unit would use the funds to repay loans and bank borrowings.
The announcement came after the stock market closed on Thursday. Yanzhou Coal shares were up 1.96 percent, outperforming the Hang Seng index's <.HSI> 0.13 percent gain.
For the statements click http://www.hkexnews.hk/listedco/listconews/sehk/20101230/LTN20101230403.pdf http://www.hkexnews.hk/listedco/listconews/sehk/20101230/LTN20101230404_C.pdf (Reporting by Alison Leung; Editing by Chris Lewis)