Anglo American, the third largest metallurgical coal shipper in the world by sales volume, agreed to sell its 70% stake in the Foxleigh PCI mine to Taurus Fund Management, according to a company statement released Monday.
The sale came after Anglo American had put the Foxleigh PCI mine in central Queensland, Australia, on the market over a year ago, in February 2015.
Anglo American's share of coal production from the mine was 1.86 million mt in 2015, a 9% drop from 2014, the company's production report showed. Market sources agreed that the Foxleigh brand name was well-established and known for its good specifications. The specifications of Foxleigh PCI is 12%-13% volatile matter, 8%-9% ash, 0.5%-0.6% sulfur and about 7,850 kcal/kg GAR calorific value.
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