BHP Billiton Mitsubishi Alliance (BMA) joint venture partners BHP and Mitsubishi Development have entered into an agreement to sell the Gregory Crinum Mine in central Queensland to Sojitz Corporation for A$100 million.

Image source: BHP

In addition to the sale of the mine to Sojitz, BMA will be providing appropriate funding for the rehabilitation of existing areas of disturbance at the site, with all rehabilitation liabilities transferred to Sojitz.

Gregory Crinum is a hard-coking coal mine located 60km north east of Emerald in the Bowen Basin. The site comprises the Crinum underground mine, Gregory open cut mine, undeveloped coal resources and on-site infrastructure including a coal handling and preparation plant, maintenance workshops and administration facilities.

Gregory Crinum Mine’s capacity was six million tonnes of hard coking coal per annum when production ceased and it was placed into care and maintenance in January 2016.

BMA made the decision to sell the mine after a detailed review that concluded there is potential for another party to realise greater value at the mine.

BMA Asset President Rag Udd said that this was a great outcome for the parties to the transaction and for the region as it would provide further employment in Emerald, and additional royalties and taxes to the people of Queensland.

Source: www.bhp.com