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Wesfarmers could have got more for Curragh: BAML

BROKING house Bank of America Merrill Lynch thinks Wesfarmers’ $700 million sale of its Curragh open cut coal mine in Queensland to the Coronado Coal Group is towards the low end of valuations, given the high price of metallurgical coal coming in to the cyclone season.

Lou Caruana
The Curragh dragline operation in Queensland.

The Curragh dragline operation in Queensland.

"The outlook of coal prices remains uncertain and presents a volatile earnings stream for Wesfarmers, which substantiates the exit," BAML analyst David Errington said. "However, given recent high prices,...

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