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BHP settles A$100m Gregory sale

27th March 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Mining major BHP and its joint venture partner Mitsubishi have completed the A$100-million sale of the Gregory Crinum coal mine, in Queensland, to Sojitz Corporation.

BHP in May last year announced the sale of the six-million-tonne-a-year coking coal asset, which was placed on care and maintenance at the start of 2016.

BHP and Mitsubishi made the decision to sell the mine after a detailed review that concluded there was potential for another party to realise greater value at the asset.

Sojitz previously said that it would restart operations at the mine as soon as the acquisition process was complete, and would provide contract mining and related services to other nearby greenfield developments, with the company saying that it aims to develop a stable business that is not exposed to the volatility of resources prices, and to contribute to the local community by creating more jobs.

Edited by Creamer Media Reporter

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