Coronado takes possession of Curragh

WESFARMERS will make a profit of about $110 million on the Curragh dragline operation in Queensland after its sale to the US-based Coronado Coal Group.

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Curragh's dragline in Queensland.

US metallurgical coal producer Coronado agreed to buy Curragh for $700 million under an agreement that also includes a value share mechanism linked to future metallurgical coal prices.