Nippon Steel acquires interest in Grosvenor coal mine

Anglo American has sold a 12% interest in the Grosvenor coal mine in Queensland, Australia, to a consortium of Japanese companies, including steelmaker Nippon Steel, it said on Wednesday November 27.

Under the terms of the agreement, which is subject to a number of conditions prior to completion, Anglo American will receive cash proceeds of approximately $141 million in respect of the 12% minority interest in the Grosvenor mine.

The value of Nippon Steel’s acquisition is A$86.4 million ($57.3 million), the steel maker said...

Published

Deepali Sharma

November 27, 2019

09:05 GMT

Singapore