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Whitehaven to Buy Mitsubishi, BHP Coal Mines at $4.1B

October 24, 2023 at 12:42 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Australian coal operator Whitehaven Coal will purchase two coal mines in Queensland from Mitsubishi and BHP Group, totaling $4.1 billion. BHP Group and Mitsubishi controlled the two mines through an equally owned joint venture and announced the sale after posting a close to 4% drop in iron ore output. The sale occurred at an auction that saw Whitehaven, currently the largest listed miner on the globe, scoop up the Blackwater and Daunia metallurgical coal mines.

According to Mitsubishi, the deal was set at $3.2 billion, with the additional $900 million being paid over a three-year period under…

NOTE TO INVESTORS: The latest news and updates relating to Canada Nickel Company Inc. (TSX.V: CNC) (OTCQX: CNIKF) are available in the company’s newsroom at http://ibn.fm/CNIKF

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