New Hope Group’s JV acquires central QLD coal mine for $14m

Company News

by Jessica Amir

New Hope Group (ASX:NHC) has advised that its Lenton joint venture entered into an agreement to acquire four mining tenements and its infrastructure for $14 million.

The coal mining and energy company owns 90 per cent of the JV, which inked the agreement to acquire the Burton Coal Mine from Peabdy in central Queensland.

The assets being snapped up were put under care, maintenance and rehabilitation in December 2016.

The acquisition is expected to take place in early 2018.

Shares in New Hope Group (ASX:NHC) are trading 0.15 per cent higher to $1.65

 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.