Mitsubishi Corporation Reaches Agreement to Sell Interest in Gregory Crinum Coking Coal Mine in Australia
2018年5月31日 - 10:54AM
JCN Newswire (英)
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.
About Mitsubishi Corporation
Mitsubishi Corporation (MC; TSE:8058) is a global integrated
business enterprise that develops and operates businesses across
virtually every industry, including industrial finance, energy,
metals, machinery, chemicals, and daily living essentials. MC's
current activities have expanded far beyond its traditional trading
operations to include investments and business management in
diverse fields including natural resources development,
manufacturing of industrial goods, retail, new energy,
infrastructure, finance and new technology-related businesses.
With over 200 offices and subsidiaries in 90 countries and regions
worldwide and a network of approximately 1,300 group companies, MC
employs a multinational workforce of over 70,000 people.
For more information, visit
https://www.mitsubishicorp.com/jp/en/
Source: Mitsubishi Corporation
Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Copyright 2018 JCN Newswire . All rights reserved.