12
Aug
08:18
Mitsui to divest Australian coking coal shares
Mitsui & Co. (Mitsui) has decided to sell a 20% stake in Australian coking coal business Stanmore SMC (formerly BHP Mitsui Coal, SMC) for $380 million, Kallanish notes.
The shares which are jointly held by Mitsui and Mitsui & Co. (Australia) (MAL) will be sold to SMC’s 80%-shareholder Stanmore Resources.
SMC owns two mines that are currently in operation, producing coking coal for use in iron and steel production.
While Mitsui has contribute…
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