Anglo American plc (“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.
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, Anglo American said in a statement April 4.
Foxleigh is an open cut coal operation, which produces high quality pulverised coal injection (PCI) coal, located in Queensland’s Bowen Basin, 12 kilometres southwest of Middlemount. Anglo American’s attributable share of Foxleigh’s saleable production was 1.86 million tonnes in 2015.