ANGLO American, the UK-listed diversified mining firm, said it had completed the sale of its 88.17% interest in the Drayton thermal coal mine and Drayton South project which are situated in Australia’s New South Wales.
The two assets have been sold to Malabar Coal for an undisclosed number. The transaction has been underway since May 2017 as part of Anglo’s drive to rid itself of lower margin, non-core assets. Anglo stopped mining at Drayton in 2016.
“The sale of Drayton marks further progress in the transformation of our globally diversified portfolio, focused around our largest and most competitive assets,” said Anglo American CEO, Mark Cutifani, in a statement today.
