Talbot Sells Anglo $555M Share In Mozambique Coking Mine

Law360, New York (July 24, 2012, 3:14 PM EDT) -- Talbot Group Investments Pty. Ltd. continues to shed mining assets, most recently unloading its controlling stake in a Mozambique coking coal project to British mining giant Anglo American PLC for AU$540 million (US$555 million), the buyer announced Tuesday.

The cash deal gives Anglo American a majority 58.9 percent interest in the Minas de Revuboe, or Revuboe River Mine, which Talbot has estimated could contain 1.4 billion metric tons of hard coking and thermal coal suitable for open-cut mining, according to a statement from Anglo American....
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