11
Jul
03:00
Bowen sells 10% of Broadmeadow East to Formosa
Australian coal miner Bowen Coking Coal has agreed to sell 10% of its Broadmeadow East Mine located in Moranbah, Australia, to MPC Lenton (MPC), a wholly owned subsidiary of Taiwanese plastics company Formosa Plastics Group, for AUD 13 million ($8.69m), Kallanish notes.
Bowen and MPC have also agreed to sell the Broadmeadow East Mine to the Burton-Lenton Joint Venture (BLJV) in a cash and royalties transaction. MPC will also contribute AUD 20m init…
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