Yanzhou Coal Mining Co. (1171) is among companies in talks to buy Vale SA (VALE5)’s stake in an Australian coal mine for more than A$500 million ($503 million), said people with knowledge of the matter.

Yanzhou and potential buyers from India are studying data on the Integra coal mine in New South Wales state and may make final offers as early as this month, said the people, declining to be identified as the process is private. Vale (VALE) (VALE) owns 61 percent of the mine, according to its website. Some minority shareholders may also sell their stakes, the people said.