Finance
Anglo American to Exit Coal Business in South Africa
- Anglo says it’s working toward a demerger of the unit
- Miners are under increasing pressure to quit thermal coal
Anglo American coal operations, South Africa.
Photographer: Philip Mostert/Anglo American
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Anglo American Plc plans to exit its biggest thermal coal business within the next three years by spinning off its South African operations as the miner accelerates its retreat from the dirtiest fuel.
Anglo has been increasingly vocal on its plans to stop mining thermal coal in the past year, but has so far given few details. Today’s comments, in a written response to shareholder questions, provide a clear route to the exit for a large part of the business.