Whitehaven Coal, a coal mining company, was suspended in the early tra

Published: Oct 19, 2023 17:54

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Whitehaven Coal, a coal mining company, was suspended in the early trading today and released a new announcement at noon, saying that the company will acquire BHP Billiton Group and Mitsubishi Corporation's Daunia and Blackwater coal mines in Queensland for a total price of 5 billion Australian dollars (3.2 billion US dollars). Whitehaven Coal said that after the attractive acquisition is completed, the company's profitability is expected to increase significantly. In addition, the acquired project and Whitehaven's existing Winchester South project will produce synergies and bring significant value-added space to the company. This acquisition is consistent with Whitehaven's strategy of transforming into a metallurgical coal producer. After the acquisition is completed, Whitehaven Coal is expected to manage an annual coal capacity of 40 million tons ("ROM"), of which 70% is metallurgical coal and 30% is power coal.

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