A new joint venture at Blackwater - Australian Mining

A new joint venture at Blackwater - Australian Mining

Image: Small Smiles_dimple/stock.adobe.comWhitehaven has officially formed a 70:30 joint venture at its Blackwater coal mine with Nippon Steel Corporation and JFE Steel Whitehaven. Nippon Steel owns a 20 per cent interest in Blackwater, with JFE Steel owning 10 per cent. Whitehaven has retained a 70 per cent stake in the mine. Whitehaven earned an aggregate cash consideration of $US1.08 billion from the transactions. “I congratulate everyone inv…

Whitehaven Finalizes Blackwater Mine Joint Venture

Whitehaven Coal (ASX:WHC) has officially completed the sale of a 30% stake in its Blackwater mine to Nippon Steel Corporation (20%) and JFE Steel Corporation (10%). The transactions, finalized on March 31, 2025, have generated a substantial US$1.08 billion in cash consideration for Whitehaven. Effective economic ownership of the newly formed joint venture commenced on April 1, 2025. Whitehaven’s CEO & Managing Director, Paul Flynn, expressed ent…

Nippon Steel, JFE Steel now official Blackwater co-owners

Whitehaven has completed the transactions to sell down 30 per cent of the Blackwater coal operation, raking in about $1.7 billion.Nippon Steel Corporation now holds a 20 per cent stake and JFE Steel Corporation hold 10 per cent, with effective economic ownership of the joint venture kicking in on April 1.“I congratulate everyone involved in […] Thank-you for your interest in iQ Industry Queensland. We invite you to purchase a registrati…