Deals
Anglo American Agrees $36 Million Sale of Australian Coal Mine
- Anglo is seeking to cut the number of mines it owns in half
- London-based miner will continue to earn royalties from mine
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Anglo American Plc agreed to sell its Dartbrook coal mine in Australia for about $36 million as the company sheds assets as part of a drastic downsizing.
The producer will sell its 83 percent stake in the project to Australian Pacific Coal Ltd., the London-based company said in a statement on Thursday. Anglo will also receive a royalty payment for every ton of coal mined or processed at the site.