Wesfarmers sold the Curragh coal mine to Coranado last year for US$539M plus 25% of met coal sales above US$145/t from Curragh for 2 years. FOB price for Oz met coal is currently US$210/t. Current export production of Curragh is 8.5Mt per annum. Hence approx price paid by Coranado is US$539M + (210-145) x 8.5M x 2 x 25% = US$539M + US$276M = US$815M. This assumes FOB met coal price and export production remains same. Coranado states Curragh reserves are 169Mt plus MDL162 reserves are 83Mt = 252Mt. (Remember MDL162 is adjacent to us and its coal seams run into our MDL453). Anyway approx price paid is 815/252 = US$3.23M/Mt -> US$3.23/t = AUD$4.51/t. Note: this calculation assigns no value to infrastructure or equipment or personnel and hence is a very rough guide.
Wesfarmers sold the Curragh coal mine to Coranado last year for...
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