Anglo American has completed the sale of its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia, to a consortium led by Taurus Fund Management, the miner said Tuesday.
The sale came after Anglo American put Foxleigh -- an open-pit operation that produces high quality PCI coal in Queensland's Bowen Basin -- on the market in February last year.
Anglo American's attributable share of Foxleigh's saleable production was 1.86 million mt in 2015, the company said, which is a 9% drop from 2014, data from the company's production report showed.
Chief operating officer of Middlemount South, Scott Graham, told the Daily Mercury that the mine would remain in production.
"We are committed to ensuring a long-term future for the mine, and to those that will benefit from its high quality coal," he said.
Middlemount South is a subsidiary of Taurus.
Australia-based Taurus specializes in investment products based on the mined commodities industry.
Its team of geologists, mining engineers, mining financiers, metallurgists and portfolio managers provide the skills and experience for successful investing, the company said on its website. The terms of the transaction are confidential, Anglo American said.
