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Anglo American to offload stake in Australian coal mine

Diversified miner Anglo American has agreed to sell its 83.33% interest in the in the Dartbrook coal mine in the Hunter Valley, New South Wales, Australia.
Under terms of the agreement, Australian Pacific Coal (APC) as guarantor and a subsidiary of AQC as purchaser, would pay up to A$50-million ($36-million), comprising an upfront cash payment of A$25-million and the grant of a royalty equal to A$3/t of coal produced by the operation in the future and A$0.25 for each tonne of coal sourced from other sites and processed using Dartbrook’s processing infrastructure.