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.
Source: Reuters.com