Anglo aims to hold on to coal mines in U-turn over plan
Company says it can facilitate an accountable transition out of fossil fuel
Anglo American will hold on to its remaining coal mines in SA, despite previous plans to sell off the coal business entirely. Under the leadership of July Ndlovu, who was appointed Anglo’s Coal SA CEO in 2016, the company has sold all of its Eskom-tied coal mines. By selling assets in Australia too, Anglo American has halved its total thermal coal production since 2012. Globally, large players are pulling away from coal as the world moves to transition to a low-carbon economy and anticoal sentiment intensifies among society and investors alike. But the multinational mining company has no intention of selling its remaining export-focused coal operations in SA for now. This, Ndlovu says, is because Anglo American regards itself as a responsible operator — one that can better facilitate an accountable transition out of coal. PODCAST: The growing power of class action lawsuits Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm However, in line with Anglo American...
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