Anglo American is selling its 88.17% of Australian thermal coal mine Drayton to Malabar Coal for an undisclosed amount, it announced on Thursday morning. "The agreement to sell the Drayton thermal coal mine marks further progress as we focus our global portfolio around our largest and most competitive assets," CEO Mark Cutifani said in the statement. Anglo American ceased mining activities at the Drayton mine, located in New South Wales, in 2016. The transaction remained subject to several conditions precedent and its terms were confidential, the company said. Besides the mothballed colliery, the deal includes Anglo’s Drayton South project, which has been controversial in Australia because the proposed mine would be in the Hunter Valley where some of the country’s most prestigious horse-racing stud farms are located. The Australian reported on March 2 that opposition from the Hunter Thoroughbred Breeders Association had resulted in Anglo’s proposals to mine the area rejected four ti...
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