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WICET shareholders ponder new Aurizon

Shareholders in the troubled Wiggins Island Coal Export Terminal (WICET) in Gladstone, Queensland are considering a buyout proposal from a consortium featuring rail operator Aurizon, Macquarie Bank and Brookfield.
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WICET has been hit by a decline in throughput from some of its source mines and the collapse and/or withdrawal of two of the eight original shareholders. It is due to pay down A$3.5B of debt by September 2018, prompting major shareholder Glencore and partners to seek refinancing arrangements.

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