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.
