The remaining 20% stake, now held by Mitsui, will also be sold to Stanmore for US$380 million.
Golden Energy and Resources, which mines coal and gold, has reported earnings of US$279 million for 1HFY2022 ended June, up 859% y-o-y, as contributions from its newly acquired stake in an Australian coal mine kicks in.
Revenue in the same period was up 201% y-o-y to US$2.43 billion, as the company benefitted from not just higher selling prices of coal but also a two-month contribution upon completion of taking a 80% stake Stanmore SMC, the Australian miner, for US$1.35 billion.
