Corrs Chambers Westgarth has advised Peabody Budjero Pty Ltd on the sale of Mineral Development Licence 162 (MDL 162) to a subsidiary of Wesfarmers Resources for A$70 million.
Peabody Budjero Pty Ltd is an Australian subsidiary of Peabody Energy Corporation, which is listed on the New York Stock Exchange.
MDL 162 is a coal deposit located in Queensland’s Bowen Basin adjacent to Wesfarmers’ existing Curragh and Curragh North mining operations. Completion of the sale has occurred.
The Corrs team was led by partner Bruce Adkins and supported by associate Aaron Burke.
Corrs partner Bruce Adkins said, “Corrs was delighted to work with Peabody Energy on this divestment. It is a transaction that was conceived, negotiated and signed in very good time.”
Herbert Smith Freehills acted for Wesfarmers Resources.
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