(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. Anglo American Plc dropped another hint that its days of mining the world’s most polluting fuel are limited.
In a slew of presentations released for an investor visit to Anglo assets in Australia, thermal coal was noticeably absent from a list of units seen to have long-term potential. The company is on a trajectory away from thermal coal, and will do so responsibly, an Anglo spokesman said.
Anglo will decide in the next year if thermal coal fits into its future portfolio, and may be better off selling the assets, RBC Capital Markets said in a note following the presentations.
Anglo has spent decades positioning itself as an environmental and social champion, from treatment plans for employees with HIV or tuberculosis, to developing new ways to mine with less water.
Yet on thermal coal it risks getting left behind, as investors quickly ratchet up pressure. Rival Rio Tinto Group sold its last coal mines in 2018, making it the first major mining company to go coal-free.
For the rest of this article: https://www.bnnbloomberg.ca/another-big-mining-company-hints-at-a-coal-free-future-1.1346492