Anglo American to Sell Drayton Coal Mine in Australia for Undisclosed Sum

By Razak Musah Baba Features Dow Jones Newswires

Anglo American PLC (AAL.LN) said Thursday it has agreed to sell its 88.17% interest in the Drayton thermal coal mine and Drayton South project in New South Wales, Australia to Malabar Coal Ltd. for an undisclosed sum.

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The miner said the transaction remains subject to several conditions and its terms are confidential.

Anglo American ceased mining activities at the Drayton mine in 2016.

Shares at 0705 GMT down 23 pence, or 2.3%, at GBP10.21, valuing the company at GBP14.33 billion.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

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May 04, 2017 03:29 ET (07:29 GMT)