Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

AUS: Moura Mine Sale Finalised

20 August 1999

RELEASE FROM BHP

The Broken Hill Proprietary Company Limited (BHP) has confirmed the sale of Moura coal mine to the Moura Joint Venture, effective from today. The mine was previously owned by BHP Mitsui Coal Pty. Ltd. (BHP - 80 per cent, Mitsui - 20 per cent). Proceeds from the sale are $89 million.

The new participants and their interests in the Moura Joint Venture are:

- Peabody Resources Limited (55 per cent), which is part of the Peabody Group of USA, the world's largest private sector coal company, and

- Mitsui Coal Holdings Pty Limited (45 per cent), whose parent is Mitsui and Co. Limited, one of the leading Japanese trading houses.

Peabody Resources Limited will manage the mine on behalf of the Joint Venture owners.

Moura is a surface mining operation that utilises dragline and highwall mining methods to produce 4 million tonnes a year of steaming and semi-soft coking coal, most of which is exported to Japan and Korea. The sale includes the coal and seam gas assets of the mine.

Moura Mine is located 180 km west of the port of Gladstone in Queensland.

A key feature of the sale is the commitment by the new owners to retain the existing Moura workforce, which will minimise any disruption to employee arrangements during the handover phase.


© Scoop Media

 
 
 
World Headlines

 

Gordon Campbell: On The Hong Kong Protest Movement

The pro-democracy protests enjoy huge support among Hong Kong’s youth, partly because the democratic systems currently at risk have only a limited time span. More>>

ALSO:

Pacific Island Forum: Australia v Everyone Else On Climate Action

Traditionally, communiques capture the consensus reached at the meeting. In this case, the division on display between Australia and the Pacific meant the only commitment is to commission yet another report into what action needs to be taken. More>>

ALSO:

For NZ, It Was May 6: Earth Overshoot Day 2019 Is The Earliest Ever

Humanity is currently using nature 1.75 times faster than our planet’s ecosystems can regenerate. This is akin to using 1.75 Earths... More>>

ALSO:

Asylum: More Manus Refugees Fly To US But Hundreds Still In Limbo

“The US deal was never going to provide enough places for the refugees Australia has held on Manus and Nauru. There are over 1800 refugees needing resettlement,” said Ian Rintoul, spokesperson for the Refugee Action Coalition. More>>

ALSO: