Anglo American agrees to sell Callide coal mine
Anglo American has agreed to sell its 100% interest in the Callide thermal coal mine in Queensland, Australia, to Batchfire Resources for an undisclosed sum.
Anglo American
2,263.50p
16:34 24/09/24
FTSE 100
8,282.76
16:59 24/09/24
FTSE 350
4,567.19
17:10 24/09/24
FTSE All-Share
4,523.37
16:39 24/09/24
Mining
11,645.82
17:09 24/09/24
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.