Foxleigh is an open cut coal operation which produces high quality pulverised coal injection (PCI) coal, located south west of Middlemount.

Anglo American’s attributable share of Foxleigh’s saleable production was 1.86 million tonnes in 2015.

The transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Foxleigh.

The transaction remains subject to several conditions precedent and its terms are confidential.

In February Anglo American has confirmed that it would exit from the coal business after they were identified as being non-core.

While the transaction is finalised, safe-operation remains Anglo American’s number one priority.

As part of the transaction, Taurus is purchasing Anglo American’s shares in Anglo Foxleigh, the company that employs the majority of site-based employees.

“These employees will continue to be employed by Anglo Foxleigh during and upon completion of the transaction,” Anglo American said in a statement.

“Taurus will assume all Anglo Foxleigh employee entitlements and site rehabilitation obligations as the new owner upon completion of the sale.

“Anglo American will continue to remain respectful to our host communities and local suppliers, and will work with them to make the transition to Taurus’ ownership as smooth as possible.”