Gregory Crinum coking coal mine to be kicked back into action after $100m sale

BHP Billiton Mitsubishi Alliance (BMA) is selling its dormant Gregory Crinum coking coal mine (GCC) to Sojitz Coal Mining (Sojitz Corporationsubsidiary) for $100 million.

The GCC operation, 60km north-east of Emerald, comprises of the following facilities –

  • the Crinum underground mine;
  • Gregory open cut mine;
  • undeveloped coal resources; and

This includes the on-site infrastructure –

  • a coal handling and preparation plant;
  • maintenance workshops; and
  • administration facilities.

Completion of the sale from BMA to Sojitz is still subject to the fulfilment of conditions precedent – this involves all customary regulatory approvals.

BMA said it would be providing appropriate funding for rehabilitation of existing areas of disturbance at the site, with all rehabilitation liabilities transferred to Sojitz.

When production ceased and placed into care in January, 2016, the capacity of hard coking coal at the GCC was six million tonnes per annum.

Sojitz also operates the Minerva mine, south of Emerald, and more recently the Meteor Downs South coal mine.

Aside from putting to action the GCC, Sojitz has stated its intention to provide mining and related services to its other greenfield developments.

 

Source: Projectory