Linc turns Carmichael royalty into cash to focus on core assets

Singapore listed Linc Energy has agreed to sell its royalty in the Carmichael coal mine to Indian developer Adani, for A$155-million, as part of a strategy to reduce debt and strengthen its balance sheet. Linc sold the Queensland-based Carmichael coal project to Adani nearly four years ago, for A$500-million, but maintained a royalty of A$2/t for the product produced from the mine.