Anglo Coal acquires a 70% interest in Girrah coal deposit
24 January, 2003
Anglo Coal (German Creek) Pty Ltd, a wholly owned subsidiary of Anglo American plc, has agreed to purchase a 70% interest in the Girrah coal deposit in Central Queensland from Wesfarmers Curragh Pty Limited, a wholly owned subsidiary of Wesfarmers Limited for a cash consideration of A$57.8 million (approx. US$33 million at current exchange rates).
The transaction is subject to regulatory approvals and is expected to be finalised in the first quarter of 2003.
The Girrah deposit is located near Anglo Coal Australia's 70% owned and managed German Creek mine which should allow infrastructure, operational and marketing synergies to be realised in the development of Girrah, that will be the subject of exploration and feasibility studies.
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