According to The Australian Financial Review, BHP and Mitsui have bought Peabody's 50 per cent stake in the Red Mountain joint venture in the coking coalfields of Queensland's Bowen Basin, which contains a coal handling, preparation and loading plant near Moranbah.
The deal increases BHP and Mitsui's stake in the assets from 50 per cent to 100 per cent. The infrastructure currently serves BHP and Mitsui's Poitrel mine plus Peabody's Millennium mine, and will continue to do so, with Peabody set to pay BHP and Mitsui to use the infrastructure.
There was no confirmation of the price paid, but it is believed to have been around $US20 million.
BHP's other coking coal partnership, with Mitsubishi, will also use Red Mountain's train loading infrastructure.
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