Anglo American flags thermal coal exit

By Vanessa Zhou | Australian Mining

Anglo American chief executive Mark Cutifani is mulling over the company’s exit from its South African thermal operations.

This will likely be done through a demerger in two to three years’ time and also include its Cerrejón operation in Colombia, which mine ownership is shared with BHP and Glencore.

Cutifani said the company had reduced its thermal coal footprint by 55 per cent and was well on the way to achieve its exit target.

The chief executive expects the South African exit to take place much more quickly than its departure from Cerrejón.

“…We are also being very respectful of our two partners in terms of our processes. We maintain a dialogue,” Cutifani, speaking in Anglo American’s 2020 interim results conference call, said…Full Story