Mitsubishi reaches sale agreement for Warkworth coal mine
Published by Stephanie Roker,
Editor
World Coal,
Mitsubishi Corporation (MC) announced on 13 June 2017 that it had reached an agreement for the sale of its 28.9% ownership interest in Warkworth coal mine (WW) in Australia held by wholly owned subsidiary Mitsubishi Development Pty Ltd to Yancoal Australia Limited (Yancoal). MC has announced that the sale was successfully completed on 7 March 2018.
The profit from this sale is included in the full year earnings forecast for the fiscal year ending 31 March 2018.
Based on its mid-term strategic plan, MC has been taking steps to improve its asset portfolio without increasing its overall investment balance, particularly as it relates to its resources business. In line with this strategy, MC will continue optimising the asset portfolio.
Read the article online at: https://www.worldcoal.com/coal/14032018/mitsubishi-reaches-sale-agreement-for-warkworth-coal-mine/
You might also like
OSMRE celebrates 10 years of investments in Coal Country to fuel jobs and economic growth
The Office of Surface Mining Reclamation and Enforcement has announced the issuance of US$134 million in fiscal year 2026 funding through the Abandoned Mine Land Economic Revitalisation, or AMLER, Programme, marking a decade of investment in coal communities working to rebuild and redefine their local economics.