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MarketScreener Homepage  >  Equities  >  Tokyo  >  Mitsui & Co., Ltd.    8031   JP3893600001

MITSUI & CO., LTD.

(8031)
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Anglo to sell 12% of Australian coal mine to Japanese partners

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11/27/2019 | 03:30am EST
FILE PHOTO: Logo of Anglo American is seen on a jacket of an employee of the Los Bronces copper mine, in the outskirts of Santiago

Mining group Anglo American is selling a 12% stake in its coking coal operations at Grosvenor in Queensland, Australia, to a group of Japanese partners for around $141 million in cash, it said on Wednesday.

The partners are Japan's biggest steelmaker Nippon Steel Corporation, Mitsui & Co, Nippon Steel Trading Corporation, Shinsho Corporation and JFE Mineral Co.

Pressure is mounting on miners to divest coal assets because of their carbon emissions.

Coking coal, unlike thermal coal which is used in power generation, is considered to have a vital role in steel-making.

Some countries list it as a strategic mineral, although manufacturers are developing technology using lower-carbon alternatives to try to reduce emissions from the steel sector.

Anglo American said the move was designed to replicate the ownership model at another of its Queensland coking coal mines Moranbah North, where Anglo's Japanese partners also have a 12% stake.

The two mines share processing infrastructure and Anglo said the move could remove bottlenecks and improve productivity.

Seamus French, Anglo American's chief executive of bulk commodities, said that aligning ownership interests would improve flexibility to blend products and improve competitiveness of what he said was "a world-class asset".

Mitsui in a statement said the deal was in line with its goal to obtain a "secure sustainable supply of essential products".

Nippon Steel Corporation also said it would continue efforts to secure "medium- and long-term stability in raw materials procurement", while strengthening ties with the producers of iron- and steel-making raw materials.

(Reporting by Barbara Lewis in London, Yuka Obayashi in Tokyo and Yadarisa Shabong in Bengaluru; Editing by Jan Harvey)

Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -0.94% 2170 Delayed Quote.0.78%
CRB COMMODITY INDEX 0.10% 195.01 End-of-day quote.0.00%
GOLD -0.36% 1555.3 Delayed Quote.2.59%
LEWIS GROUP LIMITED -1.57% 32 End-of-day quote.-7.25%
MITSUI & CO., LTD. 0.13% 1987 End-of-day quote.2.16%
MITSUI FUDOSAN CO., LTD. 0.82% 2773.5 End-of-day quote.3.76%
NIPPON STEEL CORPORATION -1.30% 1670 End-of-day quote.2.55%
NIPPON STEEL TRADING CORPORATION 0.19% 5170 End-of-day quote.-0.39%
OBAYASHI CORPORATION 0.40% 1246 End-of-day quote.3.40%
SHARE PLC 0.07% 29.52 Delayed Quote.-0.84%
SHINSHO CORPORATION -0.72% 2743 End-of-day quote.-0.94%
SILVER -0.92% 17.698 Delayed Quote.-0.48%
SILVER - CAPE VERDE ESCUDO 0.00%End-of-day quote.0.00%
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Financials (JPY)
Sales 2020 7 085 B
EBIT 2020 293 B
Net income 2020 439 B
Debt 2020 3 841 B
Yield 2020 4,08%
P/E ratio 2020 7,86x
P/E ratio 2021 7,66x
EV / Sales2020 1,03x
EV / Sales2021 1,04x
Capitalization 3 433 B
Technical analysis trends MITSUI & CO., LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 2 152,50  JPY
Last Close Price 1 987,00  JPY
Spread / Highest target 23,3%
Spread / Average Target 8,33%
Spread / Lowest Target -0,86%
EPS Revisions
Managers
NameTitle
Tatsuo Yasunaga President, CEO & Representative Director
Masami Iijima Chairman
Takakazu Uchida CFO, Representative Director & Head-Accounting
Shinsuke Fujii Representative Director, Executive VP & CAO
Toshiro Mutoh Independent Outside Director
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