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Sojitz to sell stake thermal coal mine in Indonesia's

Coal News - Published on Wed, 13 Mar 2019

Image Source: RSPO
Reuters quoted Japanese trading house Sojitz Corp, said in a statement it would sell its 30 percent stake in the Bara Alam Utama thermal coal mine in South Sumatra, Indonesia, to an existing partner for an undisclosed sum. The deal reflects the company's effort to rebalance its coal assets, shifting away from thermal coal investment and focusing more on coking coal, amid growing global concerns for environment and long-term business sustainability.

The statement said that Sojitz will continue to serve as the BAU's exclusive sales agent in Japan and continue to provide a stable supply of coal to Japanese market.

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Posted By : Rabi Wangkhem on Wed, 13 Mar 2019
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