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Anglo American sells Drayton coal mine

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World Coal,

Anglo American plc has entered into a sale and purchase agreement with Malabar Coal Ltd 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.

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Australia coal news