“For example, they have good relationships in Brazil and we have some products we believe might be useful there, particularly our PCI coal, so perhaps that’s a market they might be able to help us with,” Flannery said.

The deal involves 37,601,724 shares at $5.00 per share, which represents a 19.2% share in Felix, making AMCI its largest shareholder.

Felix chairman Ian McCauley and non-executive director John Rawlins, who were major shareholders in RMM, resigned their positions with the company yesterday.

Flannery said Felix non-executive deputy chairman Travers Duncan will assume the role of acting chairman of the company until the remaining directors meet to elect the new chair next week.

“AMCI may request a director on the board, and obviously if and when they make that request the directors will consider that,” Flannery said.

“We are looking forward to working with AMCI and meeting with its principal, Hans Mende, as we expand Felix’s export coal business and in particular the large Moolarben deposit in New South Wales.”

AMCI is a privately owned organisation with significant experience in international coal production and trading.