BEIJING, Oct. 23, 2009 (Xinhua News Agency) -- Yanzhou Coal Mining Co., Ltd (NYSE:YZC) (600188.SH; 1171.HK; YZC.NYSE) finally got the approval of its application for acquiring Felix Resources Ltd from the Australian government on Friday, but under conditions required by Australian government.

The acquisition of Felix, costing 3.5 billion AU dollars, has been the largest acquisition of Chinese enterprises in Australia so far.

The Australian government demanded Yanzhou Coal manage its mining business in Australia through its Australian-based subsidiary, Yancoal Australia Pty Ltd.

The Australian government also demanded Yanzhou Coal have Yancoal go public on Australian Stock Exchange before the end of 2012, and cut the equities of Yancoal held by Yanzhou Coal to no more than 70 percent. By then, Yanzhou Coal will be the first Chinese state-owned entity listed on Australian Stock Exchange.