Goldman Sachs picks up Colombian mine

CANADA-listed, Colombian coal miner Coalcorp has sold its La Francia mine to Goldman Sachs in a $US200 million deal.
Goldman Sachs picks up Colombian mine Goldman Sachs picks up Colombian mine Goldman Sachs picks up Colombian mine Goldman Sachs picks up Colombian mine Goldman Sachs picks up Colombian mine

Coalcorp Mining's Columbian assets.

Angie Tomlinson

Unable to meet its interest payments, Coalcorp was forced to sell its Colombian asset.

Under the deal, Goldman Sachs will pay $100 million for the La Francia I assets and $51 million for the shares of Adromi Capital, which holds a concession for La Francia II.

Goldman Sachs will also receive a coal supply agreement for the sale of 2.4 million tonnes of coal which Coalcorp valued at $50 million in favour of the purchaser.

The deal is subject to certain conditions.

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