Anglo American plc (“Anglo American”) announces that it has entered into a Sale and Purchase Agreement with Malabar Coal Limited to sell its 88.17% interest in the Drayton thermal coal mine and Drayton South project , located in New South Wales, Australia .
The Transaction will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Drayton. The Transaction remains subject to several conditions precedent and its terms are confidential.
Mark Cutifani, Chief Executive of Anglo American, said: “The agreement to sell the Drayton thermal coal mine marks further progress as we focus our global portfolio around our largest and most competitive assets.”
Anglo American ceased mining activities at the Drayton mine during 2016.
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world’s developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.
As a responsible miner - of diamonds (through De Beers), platinum and other precious metals, copper, nickel, iron ore and coal - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate – creating sustainable value and making a real difference.www.angloamerican.com
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