Anglo American to Sell Australian Coal Mine
Anglo American is planning to divest its Callide thermal coal mine in central Queensland, Australia, adding to the six other coal assets it will sell.
Callide Mine produced 8.8 million tons of coal last year and has a resource base of more than one billion tons.
Anglo American has $10.9bn-worth of debt and the mining company is divesting assets from steel plants to phosphates as part of a plan to dispose of non-core assets and focus on metallurgical coal and the high margin export thermal coal businesses.
In July the company announced that it will sell its interests in five undeveloped steel and thermal coal assets in Australia for $500m and sell its stakes in the Peace River metallurgical coal assets in Canada.