Anglo looks to shed SA coal operations

123rf.com

“We are … working towards a possible demerger of our thermal coal operations in South Africa as our likely preferred exit option, expected in the next two to three years, with a primary listing on the Johannesburg Stock Exchange for the demerged business. We will continue to consider other exit options as we engage with stakeholders as part of our commitment to a responsible transition.

“Given the significant scale and diversification of Anglo American and the capital allocation options we have across our global portfolio – combined with our overall trajectory towards those products that enable a cleaner, greener, more sustainable world – we believe that the long term prospects of our thermal coal operations in South Africa may be best served under different ownership,” the company said in a written reply to a stakeholder question.