Whitehaven Coal Limited (AU:WHC) has released an update.
Whitehaven Coal Limited has announced the sale of a 30% joint venture interest in the Blackwater coal mine to Nippon Steel Corporation and JFE Steel Corporation for a total of US$1.08 billion, expected to be completed in early 2025. This strategic move is set to bolster Whitehaven’s balance sheet by providing upfront payment, while also securing long-term offtake agreements with the two steel giants, reinforcing the demand for Blackwater’s metallurgical coal.
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