Coal news and updates

Anglo to sell mine in Queensland to Batchfire

Anglo American plc, on January 20, announced that it has entered into a share sale agreement (SSA) with Batchfire Resources Pty Ltd to sell its 100% interest in the Callide thermal coal mine in Queensland, Australia.

The transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Callide.

The transaction remains subject to several conditions precedent, and its terms are confidential, Anglo said in a release.

Callide consists of an open pit thermal coal mine and associated processing infrastructure that produced 7.6 million tons (mt) of coal in 2014 (and 5.6 mt in the first nine months of 2015), the majority of which (4.7 mt in 2014) was sold to two adjacent power stations under long-term contracts.

Source: ICMW