Australian miner BHP Billiton has announced that it has completed the divestment of its joint venture BHP Mitsubishi Alliance’s Blackwater and Daunia metallurgical coal mines in Queensland to Australia-based miner Whitehaven Coal. Whitehaven Coal has paid BHP Mitsubishi Alliance a $2.0 billion cash consideration on completion plus a preliminary completion adjustment of $44.1 million for working capital and other agreed adjustments.
Previously, the transaction had been expected to be completed in the June 2024 quarter. The Blackwater mine has metallurgical coal reserves of 183 million mt and Daunia has metallurgical coal reserves of 67 million mt, as SteelOrbis previously reported.
