“We’ve got bids in, and we’re assessing them,” Linc CEO Peter Bond Bloombergwithout naming any parties.
“People who are interested are interested as a cyclical play.”
Linc, which delisted from the Australian Securities Exchange and floated on the Singapore Exchange in December, had NEC sale negotiations with “several cornerstone investors” in November while it was also weighing up the option of spinning off NEC.
Last year consultancy Snowden estimated that NEC’s Blair Athol coal mine was worth $121-238 million.
NEC’s Teresa longwall project, also in Queensland, was valued at $259 million out of a broader forecast range of $59-$479 million.
NEC has other coal assets in the state with the Pentland coal project hosting 266Mt of inferred resources and the Dalby coal project containing 146Mt of inferred resources.
Rio ceased production at the Blair Athol mine in 2012 as the downturn in thermal coal prices continued.
NEC restarted the mine six months ago with a workforce of about 120 people.
