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.
The miner said the transaction remains subject to several conditions and its terms are confidential.
Continue Reading Below
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 firstname.lastname@example.org; Twitter: @Raztweet
(END) Dow Jones Newswires
May 04, 2017 03:29 ET (07:29 GMT)