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/