Whitehaven Coal (ASX:WHC) confirmed that it received a total of $1.08 billion in cash after it completed the sale of 20% of the Blackwater open-cut coal mine in Queensland to Nippon Steel and 10% of the mine to JFE Steel, according to a Monday Australian bourse filing.
It formed a joint venture with the two Japanese firms and effective economic ownership of the joint venture begins April 1.
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