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Anglo to Sell Its Interest in Drayton in Australia


 

Anglo American confirmed that it has entered into an 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 agreement to sell the Drayton thermal coal mine marks further progress as we focus our global portfolio around our largest and most competitive assets,” said Mark Cutifani, Chief Executive of Anglo American.

Malabar Coal Ltd.’s primary focus up until now has been the development of its Spur Hill underground coking coal project in the upper Hunter Valley of New South Wales. The Drayton transaction remains subject to several conditions and its terms are confidential. Anglo American ceased mining activities at the Drayton mine during 2016.