December 21, 2017 / 9:48 PM / 2 months ago

BRIEF-Wesfarmers Sells Curragh Coal Mine In Queensland To Coronado Coal Group For $700 Mln

Dec 22 (Reuters) - Wesfarmers Ltd:

* TO SELL ITS CURRAGH COAL MINE IN QUEENSLAND TO CORONADO COAL GROUP FOR $700 MILLION

* ESTIMATES CO WOULD REPORT POST-TAX PROFIT ON SALE OF ABOUT $100 MILLION ON DEAL COMPLETION

* AGREEMENT ALSO INCLUDES A VALUE SHARE MECHANISM LINKED TO FUTURE METALLURGICAL COAL PRICES

* PROPOSED TRANSACTION INCLUDES CURRAGH MINE ASSETS AND MINERAL DEVELOPMENT LICENSE 162

* WILL ALSO RECEIVE 25 PERCENT OF CURRAGH‘S EXPORT COAL REVENUE GENERATED AT PRICE OF $US145 PER TONNE, PAID QUARTERLY OVER NEXT 2 YRS Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below