Gregory Crinum coal mine to restart following BMA sale
March 25th, 2019
Japan’s Sojitz is plotting the restart of the Gregory Crinum coking coal mine in Queensland after completing a $100 million acquisition of the site from BHP Mitsubishi Alliance (BMA).
The operations, which were placed on care and maintenance in January 2016, had a capacity of six million tonnes a year when production stopped.
Sojitz plans to ship its first cargo of coal from the mine during the second half (starting October) of the company’s financial year following a proposed restart during its first half period.
The company pursued the acquisition as part of a strategy to rebalance a bias towards thermal coal operations in its asset portfolio.
Sojitz explained the strategy was in light of mounting environmental concerns around the globe, as well as for the long-term sustainability of its business.
“The acquisition of this coking coal mine is part of that initiative, along with the agreement to sell its stake in the BAU thermal coal mine in Indonesia, announced on March 11,” Sojitz stated.
Gregory Crinum, 60 kilometres north-east of Emerald, comprises the Crinum underground mine, Gregory