Wesfarmers says A$700m Curragh sale nearing completion
PERTH (miningweekly.com) – ASX-listed Wesfarmers on Monday reported that all conditions precedent for the A$700-million sale of its Curragh coal mine, in Queensland, had been met, clearing the way for the transaction to be completed this week.
Wesfarmers in December struck a deal with US coal producer Coronado Coal Group to divest of its mine. The transaction also included a value share mechanism linked to future metallurgical coal prices.
“The sale delivers value to our shareholders while giving the employees and customers of Curragh the opportunity to work with a leading coal producer with ambitions to expand into Australia,” Wesfarmers MD Rob Scott said.
Curragh is one of the world’s largest metallurgical coal mines, with baseline production of 8.5-million tonnes a year of export metallurgical coal and 3.5-million tonnes a year of steaming coal, which is sold to the Queensland government’s Stanwell Corporation.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation