BHP and Stanmore complete BMC deal
PERTH (miningweekly.com) – Coal miner Stanmore Coal has completed the acquisition of an 80% interest in BHP Mitsui Coal (BMC) from diversified giant BHP.
Stanmore has paid a $1.1-billion cash consideration at completion plus a preliminary completion adjustment of approximately $200-million for working capital. A further $100-million cash remains payable to BHP in six months on November 3, with potential for an additional amount of up to $150-million in a price-linked earnout payable to BHP in the 2024 calendar year.
The total cash consideration for the transaction will be up to $1.35-billion plus the final completion adjustment amount.
Stanmore CEO Marcelo Matos told shareholders that the completion of the transaction marked an important milestone in the company’s history.
“Metallurgical and PCI coal prices remain at historically high levels and Stanmore will benefit from those prices with the additional production of approximately 10-million tonnes of marketable metallurgical quality coal creating substantial additional value for the company,” he said.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation