Yet more rationalization is afoot in the Australian coal industry, with Queensland thermal producer New Hope Corp. launching an 590 million Australia dollars (526 million dollars) all-scrip take over bid for New South Wales semi-soft developer, Resource Pacific (RSP). In a move one industry wag described as 'getting in before Xstrata does,' New Hope has moved to capitalize on its current high stock market ranking and take out RSP while it is still in a development phase.
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