Whitehaven Coal to Sell Stake in Blackwater for $1.08 Billion

Bloomberg News

Whitehaven Coal to Sell Stake in Blackwater for $1.08 Billion
Nippon Steel Corp.JFE SteelWhitehaven Coal
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(Bloomberg) -- Whitehaven Coal Ltd. has entered into separate binding agreements with Nippon Steel Corp. and JFE Steel Corp. to sell almost a third of its...

-- Whitehaven Coal Ltd. has entered into separate binding agreements with Nippon Steel Corp. and JFE Steel Corp. to sell almost a third of its Blackwater mine in Australia’s Queensland state for a total of $1.08 billion.Nippon Steel will buy 20%, while JFE Steel will purchase 10%, with Whitehaven managing the venture, the Australian miner said in a filing Thursday.

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