Independent directors OF Australian-quoted met and thermal producer, Yancoal, are seeking clarity from the company's Chinese state-controlled parent, Yanzhou Mining, following a surprise change to foreign investment requirements from the Australian government. A Yancoal statement said the independent directors, representing the minority 22% Australian shareholding base in the company, want an update on Yanzhou's proposal, made in July this year, for a 'mop up' Yancoal takeover bid.
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