Aug 29, 2016

Anglo seals Foxleigh sale

Anglo seals Foxleigh sale

Anglo American has completed the sale of its 70 per cent interest in the Foxleigh metallurgical coal mine, 12km south-west of Middlemount in Central Queensland.

The sale and purchase agreement with a consortium led by Taurus Fund Management was originally announced on April 4 this year

Foxleigh is an open-cut operation which produces pulverised coal injection (PCI) coal.

The terms of the transaction remain confidential.

Anglo American flagged its intentions in February to sell further CQ operation as it backs away from coal after posting a statutory loss before tax of about $US5.5 billion for 2015.

These include the Moranbah North, Grosvenor and Moranbah South assets in the Bowen Basin – which will be sold as a package.


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