Sep 23, 2017 Last Updated 2:27 PM, Sep 22, 2017

New Entry From the Editor :

Rio Tinto commits further $3.15 billion to shareholders in buyback programme

Rio Tinto commits further $3.1…

AusBN - Rio Tinto has announced it will distribute a further AUS$3.15 billi...

BHP surges back to profit thanks to increased prices and improved productivity

BHP surges back to profit than…

AusBN- BHP demonstrated a strong financial performance for the last fiscal ...

Toys R Us to trade as usual in Australia despite filing for bankruptcy

Toys R Us to trade as usual in…

AusBN - Toys R Us has confirmed it will continue to operate as normal in Au...

Anglo American finalises sale of Dartbrook coal mine

coal 2AusBNAusBN - Anglo American (LSE:AAL) has completed the sale of its 83.33% interest in the suspended Dartbrook coal mine in New South Wales (NSW) to Australian Pacific Coal (ASX:AQC).

The Dartbrook mine, located in the coal-rich Hunter Valley region of NSW, will now formally change hands after a protracted sale process that was first initiated at the end of 2015.

Diversified miner Anglo and ASX-listed Australian Pacific Coal (APC) agreed to the AUS$50 million transaction, which also included an upfront cash payment of $25 million and a royalty fee relating to future coal production.

The Dartbrook project comprises of an underground thermal coal mine and associated processing infrastructure which has been on care and maintenance since 2006.

APC made a total coal resource estimate of 1.2 billion tonnes at Dartbrook last May, making it one of the largest underdeveloped coal operations in the renowned Hunter Valley region.

For Anglo, the divestment represents a further shedding of its Australian thermal coal operations, following the sale of its Drayton coal mine (also located in NSW), earlier this month.


This Month's Issue

AusBN Vol3 Iss1


rgn web banner

abn web banner

Recent Tweets