29
Feb
11:28
South32 to sell Illawara metallurgical coal
Australian coal miner South32 has entered into a binding agreement to sell the Illawarra metallurgical coal project in New South Wales to an entity owned by Golden Energy and Resources (GEAR) and M Resources (M Resources) for $1.65 million, Kallanish notes.
South32 says in a statement that the total consideration represents a multiple of approximately 7.2 times average annual free cash flow for Illawarra Metallurgical Coal.
The transaction is expe…
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