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"Yanzhou's commitment to Felix and the Australian economy is widely acknowledged and appreciated by Felix," managing director Brian Flannery said on Monday in a statement.
On Friday Assistant Treasurer Nick Sherry approved Yanzhou's application to acquire Felix, subject to it complying with legally enforceable conditions.
The conditions apply to all of its operations, including the Austar mine near Newcastle in New South Wales that Yanzhou already owns.
The majority of both Yanzhou and Felix shareholders now must approve the proposal for the transaction to proceed.
Felix will hold its meeting on December 8, after Yanzhou shareholder vote on October 30.
(AAP) bl
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