Newmont Mining announces sale of Australian coal assets
Newmont Mining Corp is currently in final negotiations with two overseas parties for the sale of its mining assets in Australia.
The assets include the undeveloped Felton East/West and Lochbar/Bringalily South tenements in Queensland state's Clarence-Moreton Basin.
The tenements contain more than 1.2 billion metric tons of thermal coal could be developed for export if capacity at either port becomes available.
The company intends to conclude the sale of the assets within the first half of the year.
Last year Newmont appointed Australia & New Zealand Banking Group. to find a buyer for the two coal tenements.
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