May 30, 2018 / 2:48 AM / 2 years ago

BHP-Mitsubishi JV to sell Australia coal mine to Japan's Sojitz

FILE PHOTO: A sign adorns the building where mining company BHP Billiton has their office in Perth, Western Australia, November 19, 2015. REUTERS/David Gray/File photo/File Photo

(Reuters) - Global miner BHP Billiton (BHP.AX) said on Wednesday that its joint venture with a unit of Mitsubishi Corp (8058.T) would sell a coal mine in Queensland in Australia to Japan’s Sojitz Corp (2768.T) for A$100 million ($74.89 million).

The Gregory Crinum hard coking coal mine had ceased production by the end of 2015. BHP said its annual capacity was 6 million tonnes prior to that.

“(The BHP-Mitsubishi alliance) made the decision to sell the mine after a detailed review that concluded there is potential for another party to realize greater value (there),” BHP said in a statement.

BHP’s Australia-listed shares were 0.8 percent lower on Wednesday, in line with the broader market.

Reporting by Rushil Dutta in Bengaluru; Editing by Joseph Radford

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below