Anglo American sells Callide coal mine

Anglo American has sold the Callide coal mine to Batchfire resources.

The sale was announced late yesterday.

No valuation was given for the sale, with Anglo American stating that “the transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Callide”.

Callide consists of an open cut thermal mine and associated processing infrastructure.

It comes on the back of the miner’s “radical restructuring program”, which will see it cut 85,000 jobs globally and sell off a swathe of assets.

At the time Anglo American had pegged a number of its Australian thermal coal assets for disposal, and has since sold its Dartbrook coal mine to Nathan Tinkler’s Australian Pacific Coal for approximately $50 million.

“The global market for commodities continues to deteriorate and this is not the time to talk business as usual,” Anglo CEO Mark Cutifani outlined in his presentation.

While it did list Grosvenor, Grasstree, and Moranbah as key assets, it’s other Australian coal operations – Capcoal, Dawson, Drayton, and Foxleigh – may still be on the chopping block.