Sojitz Completes Acquisition of Australia’s Gregory Crinum Mine
Mar. 27, 2019
Sojitz Corporation (“Sojitz”) has officially completed the acquisition of the Gregory Crinum coking coal mine, first announced on May 30th, 2018. The mine was previously owned jointly by subsidiaries of BHP and Mitsubishi Corporation.
Sojitz has announced a rebalancing of its existing coal assets biased towards thermal coal, in light of mounting environmental concerns around the globe and the long-term sustainability of the business. The acquisition of this coking coal mine is part of that initiative, along with the agreement to sell its stake in the BAU thermal coal mine in Indonesia, announced on March 11th.
Sojitz will restart operations at Gregory Crinum in the first half of FY2019, with the first shipment of coal in the second half of the year. Sojitz will also continue with the progressive rehabilitation of the mine (returning the site to a suitable post mining landform) as per the statutory requirement.
【Location of Gregory Crinum】