Australia-based miner Whitehaven Coal Limited (WHC) has announced that it has officially completed the sale of 30 percent interest in the Blackwater coal mine in Queensland, Australia to Japanese steelmakers Nippon Steel Corporation and JFE Steel. Nippon Steel will hold 20 percent interest, while JFE Steel will take 10 percent stake.
The company has received an aggregate cash consideration of US$1.08 billion from the transactions, US$720 million from Nippon Steel and US$36 million from JFE Steel. Effective economic ownership of the joint venture commences today, April 1, 2025.
Blackwater coal mine has an annual production capacity of 10.1 million mt.