Kingfisher Metals Corp. press release

Whitehaven to Buy Mitsubishi, BHP Coal Mines at $4.1B

2023-10-24

TSXV - TSX Venture Exchange · Gold · Copper · Silver · Canada

Australian coal operator Whitehaven Coal willpurchase two coal minesin Queensland from Mitsubishi and BHP Group, totaling $4.1 billion. BHP Group and Mitsubishi controlled the two mines through an equally owned joint venture and announced the sale after posting a close to 4% drop in iron ore output. The sale occurred at an auction that saw Whitehaven, currently the largest listed miner on the globe, scoop up the Blackwater and Daunia metallurgical coal mines.

According to Mitsubishi, the deal was set at $3.2 billion, with the additional $900 million being paid over a three-year period under...

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