Aston Resources Pty Ltd
(ASX:AZT) says it is selling a 15 per cent stake the Maules Creek Coal joint venture project in New South Wales to a wholly owned subsidiary of Japanese trading house ITOCHU Corporation.
Aston Resources says it will receive a $345 million payment for the sale.
Following regulatory approval of the transaction, Aston says it will partner with ITOCHU to form the Maules Creek Coal joint venture project.
