Anglo American agrees disposal of Foxleigh coal mine

Anglo American announced on Monday morning it had entered into a sale and purchase agreement to offload its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia.

The FTSE 100 company said the agreement was with a consortium led by Taurus Fund Management.

“Foxleigh is an open-cut coal operation which produces high quality pulverised coal injection (PCI) coal, located in Queensland’s Bowen Basin, 12 km south west of Middlemount,” Anglo American’s board said in a statement.

“Anglo American’s attributable share of Foxleigh’s saleable production was 1.86 million tonnes in 2015.”

Its board said the deal was being effected via the sale of shares in the subsidiary companies holding Anglo American’s interest in Foxleigh, and remained subject to several conditions.

The terms of the deal were confidential, the board confirmed.