Major Trade Firms in Japan Move to Downscale Coal Business (5)

摘要

In addition to major trade firms, Mitsubishi Materials Corp. sold all of a 11.21% stake in New Hope CorporationLimited owned by the Company in February 2020. New Hope is an independent coal mining company in Australia, andnow running Bengalla open-cut coal mine in the State of NSW and New Acland coal mine in the State of QLD. TheCompany produced 11.285 million tons of saleable coal (based on its interest holding portion, and the same applieshereinafter) in FY2019/20 (one year ending 31 July 2020) and sold 11.525 million tons of coal.Mitsubishi Materials has engaged in the coal production business in Australia as a major shareholder of NewHope for a long time up until now. However, Mitsubishi Materials made a practical withdrawal from the coal productionbusiness as a result of parting with all the shares in New Hope.