BREAKING NEWS

Anglo American to sell 12% stake in Australia mine for about $141 million

Anglo American to sell 12% stake in Australia mine for about $141 million
FILE PHOTO: The logo of Anglo American is seen on a jacket of an employee at the Los Bronces copper mine, in the outskirts of Santiago, Chile March 14, 2019 Picture Taken March 14, 2019. REUTERS/Rodrigo Garrido -
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RODRIGO GARRIDO(Reuters)
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(Reuters) – Miner Anglo American Plc <AAL.L> said on Wednesday it plans to sell a minority stake of 12% in its Grosvenor coking coal mine in Australia for about $141 million to a consortium of Japanese companies.

The consortium — which includes Nippon Steel Corp <5401.T>, Mitsui & Co Ltd <8031.T>, Nippon Steel Trading Corp <9810.T>, Shinsho Corp <8075.T>, JFE Mineral Co Ltd — also owns a 12% stake in Anglo’s Moranbah North mine that provides the coal processing infrastructure for Grosvenor.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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