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Diversified company confirms mines are on the market

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A diversified company has confirmed rumours about it preparing to sell mine assets are true.

Wesfarmers has invited expressions of interest from potential buyers of all or part of its coal assets, including the Curragh Coal Mine, 30km north of Blackwater in Central Queensland, and the Bengalla Coal Mine – 4km west of Muswellbrook in New South Wales’ Hunter Valley.

QMEB understands the sale could fetch up to $2 billion.

The conglomerate previously revealed it is “evaluating all strategic options for the resources business” with a view to maximising shareholder value.

“Wesfarmers is continuing to consider a broad range of options, from operational to divestment initiatives, including recently seeking expressions of interest from external parties who may want to acquire the coal assets,” Wesfarmers spokespersonCathy Bolt says.

“There is no certainty this process will lead to a transaction and Wesfarmers will update the market further if and when appropriate.”

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