Xstrata near to buying Colombian coal miner: report

The newspaper said Xstrata was the only suitor to table a fully-financed offer for the business, which is being sold by family-owned U.S. group Drummond , by last month's deadline.

Bank of America-Merrill Lynch, which is running the auction, extended the timeframe to allow other bidders including London-listed Vedanta Resources and India's Essar Global more time to arrange financing, the paper said.

However, they have struggled to do so, putting Xstrata in pole position to secure a deal, it added.

Xstrata declined to comment.

Brazil's Vale , Glencore International and mining investment vehicle Vallar also previously showed interest in Drummond's Colombian operations, sources familiar with the matter have said.