Mitsubishi Corporation (MC), through its wholly-owned subsidiary Mitsubishi Development Pty Ltd (MDP), forms BHP Mitsubishi Alliance (BMA), a metallurgical coal joint venture with BHP in Queensland, Australia.
MDP and BHP have signed an asset sale agreement to divest the Blackwater and Daunia mines to Whitehaven Coal Ltd (Whitehaven) for cash consideration of up to US$4.1 billion. The Daunia and Blackwater mines are part of the BMA joint venture, which MDP and BHP equally own.
