Wesfarmers Limited (ASX:WES) has announced it has agreed to sell its Curragh coal mine in Queensland to US based Coronado Coal Group for $700 million.
The agreement also includes a value share mechanism linked to future metallurgic coal prices.
Wesfarmers has indicated it expects to report a post-tax profit on the deal of approximately $100 million.
The sale is subject to a number of conditions including obtaining approval from the Foreign Investment Review Board.
Shares in Wesfarmers Limited (ASX:WES) are trading 0.43 per cent lower at $44.46.