The JV comprises Collingwood, Taroom and Woori coal projects and Mitsui Coal Holdings’ subsidiary MCH Surat Basin Investment holds the remainng 49% stake.
The transaction is subject to certain conditions, including MCH Surat Basin Investments not exercising its pre-emptive rights, and regulatory approvals.
With this sale, Cockatoo’s will be able to focus on the expansion of its metallurgical coal mine at Baralaba in central Queensland, Australia.
Cockatoo Coal said it will continue to operate other wholly-owned coal projects in Surat Basin with more than 780 million tons of JORC compliant coal resources.
The company’s project portfolio includes Tin Hut Creek, Bushranger, Krugers, Davies Road and Bottle Tree.
