What did ASF Group (ASX:AFA) announce regarding its coking coal assets?

ASF Group Limited has finalised a binding share sale and purchase agreement to completely divest its coking coal portfolio. The company is selling 100% of the issued shares in its wholly-owned subsidiary, ASF Coking Coal Pty Ltd, to Terra Mineral Resources Investment for $3.1 million in cash.

What specific assets are included in the ASF Group (ASX:AFA) divestment?

The transaction hands full control of nine coal tenements located across Queensland to the buyer, Terra Mineral Resources Investment. These assets were held under ASF Coking Coal, which the parent company classified as a non-core resource subsidiary.

When will the ASF Group (ASX:AFA) asset sale be officially completed?

The transaction is scheduled for official completion within fifteen calendar days following the execution date of the share sale and purchase agreement. Because the agreement is already finalised and binding, the closing timeline is relatively short.

How does the board of ASF Group (ASX:AFA) view this transaction?

The ASF Group board expressed strong confidence in the deal, labeling it an excellent outcome for both the company and its shareholders. Management believes the sale successfully unlocks tangible value from a non-core resource portfolio at a favourable price.

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ASF Group divests coking coal portfolio for $3.1M

Written by Heidi Cuthbert Published Jun. 1 2026

ASF Group (ASX:AFA) has finalised a share sale and purchase agreement to divest its entire coking coal asset portfolio for $3.1 million in cash.

Under the terms of the binding agreement, Terra Mineral Resources Investment will acquire 100% of the issued shares in ASF Coking Coal, a wholly-owned but non-core subsidiary of the parent company.

The transaction hands TMR full control over a portfolio consisting of nine coal tenements strategically located across Queensland.

The ASF board expressed strong confidence in the strategic divestment, stating that the transaction represents an excellent outcome for the company and its shareholders by unlocking tangible value from its resource portfolio.

The transaction is scheduled for official completion within fifteen calendar days following the execution date of the agreement.

ASF Group plans to strategically redeploy the $3.1 million in capital proceeds to fuel its future growth initiatives, fund new investment opportunities, and strengthen its ongoing working capital position.

Following the divestment, ASF Group intends to maintain its primary focus on pioneering high-value, cross-border trade and investment opportunities across its remaining core focus sectors, which include property, technology, and financial services.