Anglo American plc (“Anglo American”) announces that it has entered into a Share Sale Agreement (“SSA”) with Batchfire Resources Pty Ltd (“Batchfire”) to sell its 100% interest in the Callide thermal coal mine (“Callide”) in Queensland, Australia.
The transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Callide. The transaction remains subject to several conditions precedent, and its terms are confidential.
Callide consists of an open pit thermal coal mine and associated processing infrastructure that produced 7.6 Mt of coal in 2014 (and 5.6 Mt in the first nine months of 2015), the majority of which (4.7 Mt in 2014) was sold to two adjacent power stations under long term contracts.
Notes to editors:
Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from bulk commodities and base metals to precious metals and diamonds (through De Beers) – to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.