BMA to sell Gregory crinum mine
(Posted on 31/05/18)
BHP Billiton Mitsubishi Alliance (BMA) joint venture partners BHP and Mitsubishi Development Pty Ltd (Mitsubishi) have entered into an agreement to sell the Gregory Crinum Mine in central Queensland, to Sojitz Corporation for A$100 million.
In addition to the sale of the mine to Sojitz, BMA will be providing appropriate funding for rehabilitation of existing areas of disturbance at the site, with all rehabilitation liabilities transferred to Sojitz. The net impact from this funding is not material for BHP or Mitsubishi.
Gregory Crinum is a hard coking coal mine located 60 km north east of Emerald in the Bowen Basin. The site comprises the Crinum underground mine, Gregory open cut mine, undeveloped coal resources and on-site infrastructure including a coal handling and preparation plant, maintenance workshops and administration facilities.
Gregory Crinum Mine’s capacity was six million tonnes of hard coking coal per annum when production ceased and it was placed into care and maintenance in January 2016.
BMA made the decision to sell the mine after a detailed review that concluded there is potential for another party to realise greater value at the mine.
BMA Asset President Rag Udd said, “This is a great outcome for the parties to the transaction and for the region. This will provide further employment in Emerald, and additional royalties and taxes to the people of Queensland”.
“We wish Sojitz well in its plans to recommence production at the site,” Mr Udd said.
Completion of the sale is subject to the fulfilment of conditions precedent including customary regulatory approvals, which could take several months. During the approval period BMA and Sojitz will work together to facilitate a smooth transition.
This month the European ARBAHEAT consortium will start a research project to investigate the conversion... Read more
UC Rusal, a leading global aluminium producer, has announced its results for the three and nine... Read more
BHP plans to return US$10.4 billion to its shareholders through the combination of an off-market buy... Read more
The non-binding heads of agreement, originally signed on 28 October 2016, for Chinalco to acquire Rio... Read more
Trade negotiations are officially on the horizon with the European Union, Japan and the United Kingdom... Read more
The National Grain and Feed Association (NGFA) in the USA has testified at an Internal Revenue... Read more
Rio Tinto chief executive J-S Jacques said “We have delivered consistent operational performance... Read more
The World Coal Association (WCA) has launched a new report calling on the World Bank Group (WBG) to... Read more
BHP was an early adopter of drones across its mine sites. Now drones are taking flight at BHP’... Read more
thyssenkrupp Industrial Solutions, a leading partner for the engineering, construction and service of... Read more