South32’s Illawarra Metallurgical Coal sale receives approval
Published by Will Owen,
Editor
World Coal,
South32 Ltd has advised that its sale of Illawarra Metallurgical Coal, to an entity owned by Golden Energy and Resources Pte Ltd and M Resources Pty Ltd, has received Australian Foreign Investment Review Board approval.
The transaction is now expected to be completed in Q1 FY25, subject to the receipt of the remaining foreign merger clearances.
The consideration for the transaction is up to US$1.650 billion comprising:
- Upfront cash consideration of US$1.05 billion, payable at completion.
- Deferred cash consideration of US$250 million, payable in 2030.
- Contingent price-linked cash consideration of up to US$350 million.
The total consideration represents a multiple of approximately 7.2x average annual free cash flow for Illawarra Metallurgical Coal.
Read the article online at: https://www.worldcoal.com/coal/11072024/south32s-illawarra-metallurgical-coal-sale-receives-approval/
You might also like
A compact solution for deep mine cooling in Poland
David Kim-Hak, Vice President of Wastewater at Energy Recovery, takes a look at a real-world example of how a mine operation in Poland added pressure exchangers and improved operational flexibility with no scheduled maintenance.