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Whitehaven Coal Limited ( (AU:WHC) ) has shared an update.
Whitehaven Coal Limited has secured regulatory and competition approvals for selling a 30% stake in its Blackwater mine. The transaction, involving Nippon Steel Corporation and JFE Steel Corporation, will be finalized on March 31, 2025, and is expected to yield an aggregate cash consideration of US$1.08 billion. This financial boost will strengthen Whitehaven’s balance sheet, aiding in scheduled payments for its acquisition of Daunia and Blackwater mines. The reduction in ownership from 100% to 70% leads to slight adjustments in FY25 equity sales guidance, reflecting the new joint venture with Nippon Steel and JFE Steel. This strategic move is anticipated to enhance Whitehaven’s capital returns for shareholders.
More about Whitehaven Coal Limited
Whitehaven Coal Limited operates in the coal mining industry, focusing on the production and sale of metallurgical and thermal coal. Their market focus includes partnerships with major steel corporations, indicating a strong position in the supply chain for metallurgical coal.
YTD Price Performance: -10.41%
Average Trading Volume: 18,223
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.81B
Find detailed analytics on WHC stock on TipRanks’ Stock Analysis page.
