PERTH (miningweekly.com) – Mining major Anglo American has completed the sale of its Callide thermal coal mine, in Queensland, to Batchfire Resources.
The deal, which was struck in January this year, was effected through the sale of shares in the subsidiary companies holding Anglo’s interest in Callide.
The terms of the transaction are confidential.
The Callide operation consists of an openpit mine and processing infrastructure, which produced 7.9-million tonnes of coal in 2015, and 5.5-million tonnes of coal in the first nine months of 2015, the majority of which was sold to two adjacent power stations under long-term contracts.
Anglo was reportedly set to finalise a $1-billion-plus sale of its Australian coal assets to a consortium headed by private equity group Apollo Global Management.
The miner earlier this year said that discussions were under way to divest of its Moranbah and Grosvenor mines as part of its plans to sell $3-billion to $4-billion of assets this year.
Edited by: Creamer Media Reporter
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