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Reuters
Reuters
Business

BHP-Mitsubishi JV to sell Australia coal mine to Japan's Sojitz

(Reuters) - Global miner BHP Billiton <BHP.AX> said on Wednesday that its joint venture with a unit of Mitsubishi Corp <8058.T> would sell a coal mine in Queensland in Australia to Japan's Sojitz Corp <2768.T> for A$100 million ($74.89 million).

The Gregory Crinum hard coking coal mine had ceased production by the end of 2015. BHP said its annual capacity was 6 million tonnes prior to that.

"(The BHP-Mitsubishi alliance) made the decision to sell the mine after a detailed review that concluded there is potential for another party to realise greater value (there)," BHP said in a statement.

BHP's Australia-listed shares were 0.8 percent lower on Wednesday, in line with the broader market.

(Reporting by Rushil Dutta in Bengaluru; Editing by Joseph Radford)

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