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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.