Anglo American To Decide On Fate Of South African Thermal Coal Assets

Global miner Anglo American Chief Executive Mark Cutifani has said that the company expects to decide this year whether to sell its South African thermal coal business.

Anglo American and others have come under growing pressure to reduce their exposure to coal because of concern over climate change, with South32 having already launched the sale of its South African thermal coal operation. Cutifani said Anglo American would consult with government, communities and employees before a decision is announced. It has already received interest from potential buyers both inside and outside of South Africa, he said. He said the diversified miner had no plans to exit its coking coal business but was rather looking at ways to reduce its carbon impact. Metallurgical coal, which Anglo American mines in Australia, is used in steel production. Increasing pressure from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels.

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