Sojitz Divests Interest in Thermal Coal Assets, BAU Coal Mine, in Indonesia
Mar. 11, 2019
Sojitz Corporation (“Sojitz”) has entered an agreement to sell its entire 30% stake in PT Bara Alam Utama (“BAU”), a coal mining company that owns and operates the BAU thermal coal mine located in South Sumatra, Republic of Indonesia, to an existing partner.
This strategic share sale furthers Sojitz’s shift away from thermal coal investments as the company continues to rebalance its coal assets in light of rising global concern for the environment and long-term business sustainability. Following the sale, Sojitz will continue to serve as BAU’s exclusive sales agent in Japan and continue to provide a stable supply of coal to the Japanese market.