Mitsui & Co., Ltd., Nippon Steel Corporation, Nippon Steel Trading Corporation, Shinsho Corporation and JFE Mineral Co., Ltd. entered into an agreement to acquire 12% stake in Grosvenor coal mine from Anglo American plc for approximately $140 million.

Mitsui & Co., Ltd. (TSE:8031), Nippon Steel Corporation (TSE:5401), Nippon Steel Trading Corporation (TSE:9810), Shinsho Corporation (TSE:8075) and JFE Mineral Co., Ltd. entered into an agreement to acquire 12% stake in Grosvenor coal mine from Anglo American plc (LSE:AAL) for approximately $140 million on November 27, 2019. Under the terms of transaction, Mitsui & Co., Ltd. will acquire 4.75% stake, Nippon Steel Corporation will acquire 5% stake, Nippon Steel Trading Corporation will acquire 1.25% stake, Shinsho Corporation and JFE Mineral Co., Ltd. will acquire 0.5% stake each. Mitsui & Co., Ltd. will acquire 4.75% stake for AUD 82.1 million ($55.6 million).

The transaction is subject to a number of conditions prior to completion.