Mitsubishi Corp.(MSBHF)- OTCPK - Current
  • Sep. 30, 2015, 3:52 AM
    • Rio Tinto (NYSE:RIO) has agreed to sell its 40% stake in the the Bengalla coal mine in eastern Australia to New Hope (OTCPK:NHPEF) for $606M in a deal that could signal Rio's eventual exit from coal.
    • Rio has also taken full control of its Coal & Allied subsidiary, which manages mines in the Hunter Valley region of Australia's New South Wales state, from Japan's Mitsubishi (OTCPK:MSBHF). The latter will swap its 20% holding in Coal & Allied for a 32.4% stake in the Hunter Valley operations.
    • The transactions come amid soft demand for coal, oversupply and low prices. (PR)
    • Rio's shares are +1.9% in London.
    | Sep. 30, 2015, 3:52 AM
  • May 1, 2012, 3:47 AM

    Aussie oil producer Woodside Petroleum (WOPEY.PK) plans to sell a stake in its giant Browse natural gas project to Mitsui and Mitsubishi for $2B. The two Japanese firms will also work with Woodside to market LNG to the Asian market and to help Woodside raise money to finance the project. (PR)

    | May 1, 2012, 3:47 AM