EMR Capital Pty. Ltd. is understood to have hired Bank of America and Macquarie Capital for a sale of its USD 3 billion plus Kestrel coal mine that could come on the market as soon as this year. The asset is likely to come up for sale after the conclusion of the USD 4 billion Anglo American sale process for Queensland coal mines, capitalising on its strong sale momentum and offering underbidders the opportunity to secure another top-quality asset in the sector. Kestrel is the underground coking or metallurgical coal mine, producing about 7.1 million tonnes of coal annually which is used to make steel worldwide. It is located in Queensland's Bowen Basin, 51km northeast of Emerald, and was purchased from Adaro Energy by the Owen Hegarty-chaired EMR Capital in 2018 for USD 2.25 billion.