ICRA Rolleston offloads interest in Glencore mine

Civmec

Rolleston Coal Holdings has appointed McGrathNicol Restructuring to acquire ICRA Rolleston’s 12.5 per cent minority interest in the Rolleston joint venture (JV) in Queensland.

The Rolleston open cut JV is divided between Glencore (75 per cent interest), Sumisho Coal Australia (12.5 per interest) and formerly ICRA Rolleston (12.5 per cent interest).

McGrath Nicol announced it will immediately undertake a sale of its joint venture interest.

It is expected that the formal sale campaign will commence in the coming days, McGrath Nicol stated.

The Rolleston open cut coal mine is managed and operated by Glencore and was previously closed for two weeks in early 2021.

Glencore recently stated that it intends to invest in transition metals for a low carbon future, however it expressed support for its coal portfolio.

The company said it may reduce its coal portfolio but maintain its “high quality assets in Australia”.

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