Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Thursday, 31 May 2018, 09:54 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation Reaches Agreement to Sell Interest in Gregory Crinum Coking Coal Mine in Australia

TOKYO, May 31, 2018 - (JCN Newswire) - Mitsubishi Corporation (MC) has entered into an agreement with Sojitz Corporation (Sojitz) to sell its 50% interest in BMA's Gregory Crinum (GC) coking coal mine, which is currently under care and maintenance. The sale will be executed through Mitsubishi Development Pty Ltd (MDP), MC's wholly-owned subsidiary headquartered in Brisbane, Australia.

BHP, the holder of the remaining interest in the GC mine, will also sell their 50% interest to Sojitz. The total sale value of the mine, with interests held by MC and BHP combined, will be A$100 million (ca. YEN8.2B). Completion of the sale will be subject to fulfillment of conditions precedent, including approval from the Australian government.

Based on its "Midterm Strategy 2018," released in May 2016, MC has been taking steps to improve its asset portfolio while maintaining its size, and the divestment of the GC mine is one part of this strategy.

In conjunction with these efforts to optimize its asset portfolio, MC is committed to enhancing the competitiveness of its existing assets through continuous endeavors aimed at reducing cost and improving productivity.

The profit from this sale has been included in the full-year earnings forecast for the fiscal year ending March 31, 2019.


Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705 



Topic: Press release summary
Sectors: Energy
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://ph.linkedin.com/company/mitsubishi-corporation

Mitsubishi Corporation
Jan 19, 2021 09:25 HKT/SGT
Mitsubishi Corporation: Commercial Operations Commence at Methanol / Dimethyl Ether Plant in Trinidad and Tobago
Dec 24, 2020 16:01 HKT/SGT
Vietnam Pilot Project Utilizing TradeWaltz Platform Adopted Under Government's Supply-Chain Diversification Scheme
Dec 8, 2020 15:01 HKT/SGT
MC Signs Rolling Stock Contracts with Myanma Railways
Nov 24, 2020 13:15 HKT/SGT
Mitsubishi Corporation Signs Contract with Egyptian Government for Phase 1 of Cairo Metro Line 4
Oct 30, 2020 23:10 HKT/SGT
Hitachi Rail and Mitsubishi Corp to Deliver Metro de Panama Line 3 worth JPY 92.0 Billion
Oct 28, 2020 09:30 HKT/SGT
Trials of Jointly Developed Compact LNG Filling System to Commence in Hokkaido
Oct 27, 2020 11:25 HKT/SGT
Mitsubishi Corporation: Cross-Industry Investment by Seven Enterprises in New TradeWaltz Platform
Oct 1, 2020 09:09 HKT/SGT
MC Commences Feasibility Study on Biometric Authentication Platform in Turkey
Sept 23, 2020 15:00 HKT/SGT
Mitsubishi Corporation: Use of CO2 in Concrete / Partnership with Blue Planet Systems Corporation
Sept 15, 2020 08:41 HKT/SGT
Mitsubishi Corporation and Surbana Jurong Joint Venture to Form Partnership with SinarMas Land to Advance Smart, Sustainable Transit-Oriented Developments in Indonesia
More news >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: