PERTH (miningweekly.com) – Coal miner New Hope has completed the acquisition of joint venture partner Mitsui’s 10% interest in the Bengalla project, in New South Wales, taking its interest to 80%.
New Hope in November of last year struck a A$215-million deal with Mitsui to purchase its 10% interest in the Bengalla JV, after spending A$860-million to acquire Wesfarmer’s 40% stake in the project.
JV partner Taipower has maintained its 20% interest in the project.
New Hope last week reported a 21% increase in revenue for the half-year ended December, on the back of its increased stake in the Bengalla mine.