US$577m sale completed of und

RNS Number : 5015Y

Anglo American PLC

23 December 2010

 



23 December 2010
Anglo American completes US$577 million sale of undeveloped coal assets in Australia

Anglo American plc ("Anglo American") announces that it has completed the sale of its interests in five undeveloped coal assets in Australia to a consortium composed of Korea Electric Power Corporation, POSCO and Cockatoo Coal Limited, for cash proceeds of A$577 million (approximately US$577 million).

Anglo American announced the sale of the five predominantly thermal coal assets on 5 July 2010. The assets comprise two wholly-owned underground coal deposits in New South Wales (Bylong and Sutton Forest) and Anglo American's share in three open cut coal deposits in Queensland (Collingwood, Ownaview and Taroom), all of which are held 51% by Anglo American and 49% by Mitsui.

For further information, please contact:

United Kingdom

James Wyatt-Tilby, Media Relations

Tel: [phone]

Caroline Metcalfe, Investor Relations

Tel: [phone]

South Africa

Anna Mulholland, Investor Relations

Tel: [phone]

Notes to editors:

Anglo American plc is one of the world's largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American's portfolio of mining businesses spans precious metals and minerals - in which it is a global leader in both platinum and diamonds; base metals - copper and nickel; and bulk commodities - iron ore, metallurgical coal and thermal coal. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company's mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com

 

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