Gloucester Coal of Australia intends to raise equity to buy shares in coal mines from its leading shareholder, Singaporean-owned Noble Group, the most recent on a series of deals in the growing coal industry.

Gloucester said it was still talking with Noble, Gloucester's 95 per cent shareholder, about buying several of its assets in the coal sector, but an agreement has yet to be reached.

Gloucester did not disclose any figures about the deal as well.

While Noble Group has offered to take over the remaining Gloucester shares it has yet to control, both companies have seeking alternative ways since plans to merge Gloucester Coal with major miner Macarthur Coal was dropped in May.

"No agreement has been reached between Gloucester and Noble and no decision has been made in respect of any capital raising," Gloucester announced in a statement.

Gloucester declined to comment further.

Noble Group has made an offer worth A$12.60 per share for the remaining Gloucester shares t does not own. The offer expires early August.

There have been a series of offers and deals in the Australian coal industry since the PM Gillard's administration made an agreement with the mining major players regarding controversial mining tax.

Gloucester Coal's shares traded at A$12.43 per share on Thursday.