Coal news and updates

BHP to sell stake in metallurgical coal JV to Stanmore for up to $1.35 bln

Global miner BHP Group Ltd signed a deal on Monday to sell its stake in BHP Mitsui Coal (BMC), a metallurgical coal joint venture in Queensland, to Stanmore Resources Ltd for up to $1.35 billion, the companies said. Stanmore, which is majority- owned by Singapore-based thermal coal explorer Golden Energy and Resources Ltd, agreed to acquire BHP's 80% stake in BHP Mitsui Coal, which owns and operates two open-cut metallurgical coal mines in the Bowen Basin. The remaining stake in the joint venture is owned by Japan's Mitsui & Co Ltd ..