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Anglo American enters share sale agreement with Batchfire Resources
Anglo American has announced that it has entered into a share sale agreement with Batchfire Resources to sell its 100% interest in the Callide thermal coal mine in Queensland, Australia.
© lotsostock – 123RF.com
Callide consists of an open pit thermal coal mine and associated processing infrastructure that produced 7.6Mt of coal in 2014 (and 5.6Mt in the first nine months of 2015), the majority of which (4.7Mt in 2014) was sold to two adjacent power stations under long-term contracts.
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.
