(EnergyAsia, May 3 2013, Friday) — Australia-listed MetroCoal Limited said a Chinese shareholder recently raised its 19.6% shareholding in the Brisbane-based miner to 22.6%.

Dadi Engineering Development (Group) Co Ltd, described as one of China’s leading coal services groups, bought 6.25 million shares from investor Mathews Capital to increase its ownership of Metrocoal shares to 47.25 million.

MetroCoal did not disclose the price Dadi paid in the “off-market” transaction, but added that it welcomes the Chinese firm’s increased shareholding and support.

At a reported 4.2 billion tonnes, MetroCoal claims to own one of the largest thermal coal reserves in Australia.