Bowen Coking Coal gains on selling Queensland mine to JV with Taiwanese firm

Bowen Coking Coal

11/07/2023 01:42

** Shares of Australia's Bowen Coking Coal  BCB.AX  rise
3.5% to A$0.15, best day since June 28 if gains hold
    ** Co says it has agreed to sell Broadmeadow East mine in
Queensland to the Burton-Lenton Joint Venture 
    ** The JV is owned MPC Lenton Pty, a unit of Taiwanese
plastics company Formosa Plastics  1301.TW  and a unit of co
    ** Adds transaction if for A$13 million ($8.69 million) and
certain acquisition royalties
    ** Stock has fallen 11.7% this year as of last close 


($1 = 1.4957 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))