Shareholders in Chinese miner, Yanzhou Coal, have approved the company's takeover of Australian firm Felix Resources.
The decision clears the way for Felix shareholders to vote on the $3.5 billion deal when they meet next month.
Felix managing director, Brian Flannery, says only a few of the Foreign Investment Review Board pre-conditions for the takeover are yet to be satisfied.They include a waiver of all rights from the joint venture partners in the company's Ashton mine at Singleton in the New South Wales Hunter Valley.
