Anglo American explores sale of South Africa’s coal alongside spin-off -sources – by Clara Denina and Zandi Shabalala (Reuters U.S. – May 22, 2020)

https://www.reuters.com/

LONDON, May 22 (Reuters) – Anglo American is still exploring a sale of its thermal coal assets in South Africa as an alternative to spinning off and listing the business, three sources familiar with the matter told Reuters.

Mining companies are under pressure to stop mining coal, the most polluting fossil fuel, from investors and governments keen to switch to cleaner fuels.

London-listed Anglo said earlier this month that it would spin off its last remaining coal assets in South Africa and list them in Johannesburg. Sources say an outright sale of Anglo American’s coal mines was still on the cards.

When asked for comment, Anglo referred Reuters to a response to shareholders in May saying the company would continue to consider other exit options.

Chief Executive Mark Cutifani told Reuters in February that the company had already received interest from potential buyers both inside and outside of South Africa.

For the rest of this article: https://www.reuters.com/article/angloamerican-ma-coal/anglo-american-explores-sale-of-south-africas-coal-alongside-spin-off-sources-idUSL8N2D42QG

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