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Anglo American set to sell Foxleigh metallurgical coal mine

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World Coal,

Anglo American has entered into a Sale and Purchase Agreement with a consortium led by Taurus Fund Management to sell its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia.

Foxleigh is an opencast coal operation, which produces high-quality pulverised coal injection (PCI) coal, located in Queensland’s Bowen Basin, 12 km southwest of Middlemount. Anglo American’s attributable share of Foxleigh’s saleable production was 1.86 million t in 2015.

The transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Foxleigh. The transaction remains subject to several conditions precedent and its terms are confidential.

Edited from press release by Harleigh Hobbs

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