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Coronado Coal reportedly submits bid for Anglo American assets in Australia

has thrown itshat into the ring for AngloAmerican Plc's Australian coal assets, which are expected to fetchupward of A$1 billion, by partnering with a Texas-based private equity firm,according to The Australian.

Accordingto the report, Coronado and Energy and Minerals Group submitted a bid for AngloAmerica's Grosvenor and Moranbah North metallurgical coal mines, putting them incompetition with offers from BHPBilliton Group and another private equity firm.

Otherbids have been reported, including one from a -led consortium, which wasreportedly dismissed for being too low.

U.S.billionaire Chris Cline has also reportedly expressed interest in the assets.

Earlierthis year, Connecticut-headquartered Coronado moved closer to reducingits coal exposure with the purchase of one of its most productive CentralAppalachian coal mines for $420 million. CONSOL its Buchanan mine in southwest Virginiato Coronado IV LLC, a unit of Coronado Coal.

Coronadoand Energy and Minerals Group could not be reached for comment on the biddingprocess.