Anglo American agrees to sell Callide coal mine

The company said the transaction, which is subject to several conditions, will be effected via a sale of shares in the subsidiary companies holding Anglo’s interest in Callide.

The Callide mine is an open-cut operation providing low sulphur and sub-bituminous thermal coal primarily for Queensland’s domestic power generation.

Back in December, Anglo said it would be suspending its dividend payment for 18 months as it announced a radical portfolio restructuring and further material costs savings and capex reductions to combat declining commodity prices.

At 0820 GMT, Anglo shares were down 5.9% to 224.85p.