After seeking a buyer for more than a year, Anglo American has completed its sale of its interest in the Foxleigh complex in the Bowen Basin region of Queensland, Australia, to a group led by Taurus Fund Management. The deal with the consortium was first inked as a sale and purchase agreement in early April. No financial or other related details were released.
An engineer inspects Foxleigh’s coal handling and preparation system.
Anglo American first put Foxleigh on the market in February 2015, part of a plan to streamline its portfolio and concentrate on core assets. Anglo’s attributable share of the open-cut Foxleigh operation, which produces pulverized coal injection (PCI) tonnage, was 1.86 million metric tons (mt) last year.
Middlemount South COO Scott Graham told the Mackay Daily Mercury that it will keep the mine in production. “This is an exciting time for Middlemount South as we get our feet under the desk and begin to fully investigate current operations,” he told the paper. “We are committed to ensuring a long-term future for the mine, and to those that will benefit from its high quality coal.”
Middlemount South is a subsidiary of Sydney-based Taurus Funds Management.