COLLIERY
Anglo loan finalises sale of Dartbrook
Anglo has sold a number of Australian thermal coal assets but has opted to retain its metallurgical coal mines there
Diversified miner Anglo American finally drew a line under the delayed sale of its suspended Dartbrook thermal colliery in Australia to Australian Pacific Coal after agreeing to the transaction in December 2015. John Robinson, CEO of Australian Pacific Coal, said Anglo had extended the company a vendor loan of A$7.7m ($5.73m) repayable in three years towards the purchase of the diversified miner’s 83% stake in the colliery. In terms of the original agreement, Sydney-listed Australian Pacific Coal would make a A$25m cash payment and pay a royalty of A$3 per tonne sold, capped at A$25m. Australian Pacific Coal said it would complete a pre-feasibility later in 2017 into an opencast mine at Dartbrook, which Anglo suspended in 2006.
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