SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
November 13, 1998
THE PITTSTON COMPANY
(Exact Name of registrant as specified in its charter)
Virginia 1-9148 54-1317776
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of Incorporation)
1000 Virginia Center Parkway
P. O. Box 4229
Glen Allen, VA 23058-4229
(Address of principal (Zip Code)
executive offices)
(804)553-3600
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
The Registrant reports that, on November 13, 1998,
Pittston Mineral Ventures Company, a Pittston Minerals Group
company, announced that its Australian affiliate, Mining Project
Investors Pty. Ltd. ("MPI"), had completed the previously
announced sale of its 50% interest in the Black Swan Nickel Joint
Venture. This transaction will permit MPI to focus on its gold
mining and exploration programs in Australia and North America.
As a result, Pittston Mineral Ventures Company's ownership in MPI
has increased to approximately 45% on a fully diluted basis.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned hereunto duly authorized.
THE PITTSTON COMPANY
(Registrant)
By /s/ James B. Hartough
Vice President - Corporate
Finance and Treasurer
Dated: November 13, 1998
