AURIZON'S potential buy of the debt-laden Wiggins Island Coal Export Terminal is in doubt after one company involved in the estimated $4 billion deal tapped out.
AURIZON'S potential buy of the debt-laden Wiggins Island Coal Export Terminal is in doubt after one company involved in the estimated $4 billion deal tapped out. Contributed

Aurizon's $4b CQ deal in doubt

AURIZON'S potential buy of the debt-laden Wiggins Island Coal Export Terminal is in doubt after one company involved in the estimated $4 billion deal tapped out.

Canadian investor Brookfield has reportedly walked away from the $4 billion bid from the Macquarie-led consortium to buy the project, which has more than $3 billion of debt.

The decision followed the sale of the formerly Wesfarmers-owned Curragh mine to US company Coronado Coal for $700 million.

WICET coal loader.
WICET coal loader. Contributed

The Australian reported that the purchase of the Blackwater mine was a key condition for the consortium's bid to go ahead.

Aurizon is still understood to be working on a potential deal to buy the Gladstone terminal, but Brookfield's exit has raised questions whether it would have the financial backing to carry out the deal.

The rail company announced it was in early negotiations to purchase WICET, currently owned by five miners, in November last year.



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