TOKYO, Feb 21 (Reuters) - Mitsubishi Materials Corp 5711.T is selling down its stake in Australian thermal coal producer New Hope Corp (NHC) as part of a realignment of its shareholding portfolio, a spokesman for the Japanese company said on Friday.
Mitsubishi Materials was the second-biggest shareholder of New Hope with an 11.2% stake.
Mitsubishi Materials, which produces copper and cement, uses thermal coal to generate power at its cement plants and New Hope is one of its coal suppliers, the spokesman said, adding the Japanese firm will continue to buy coal from New Hope even after selling its stake.
News: NHC Mitsubishi Materials selling down stake in coal miner New Hope
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