
Saraji Mine: Eastward Ho
SARAJI coking coal mine in Queensland’s coal-rich Bowen Basin coalfield is ready for the next stage in its development with its Saraji East expansion project. Purchased by the BHP Mitsubishi Alliance joint venture, a 50:50 joint undertaking between Japanese trading house Mitsubishi and BHP, from Australian coal company New Hope Corporation in July 2008 for the price of $2.45b, the Saraji (East) coal project marked a new watershed price for coal mining assets in Australia. New Hope went on to use the money received for its Saraji coal project to fund some coal asset acquisitions including stakes in former Rio Tinto’s Hunter Valley coal mine in NSW. The Saraji project is an undeveloped metallurgical coal resources adjacent to BMA’s Saraji…