Anglo American, South32 walk away from thermal coal
By Vanessa Zhou | Australian Mining
Anglo American is the second company to cut off its South African thermal coal assets following a similar move by South32 last week.
Anglo American plans to demerge its thermal coal operations in South Africa and establish a new holding company called Thungela Resources to hold the assets.
The company intends to support Thungela with a cash injection of ZAR2.5 billion ($225 million) on top of ongoing capital support until 2022 to guard Thungela against any drop in thermal coal prices….Full Story