Anglo American Plc. (LSE: AAL) announced the completion of the sale of its 88.17 percent interest in the Drayton thermal coal mine and Drayton South project to Malabar Coal Limited (ASX:MBC).
As quoted in the press release:
Located in New South Wales, Australia, the sale followed the announcement of the sale and purchase agreement in May 2017. The terms of the transaction remain confidential.
Anglo American ceased mining activities at the Drayton mine during 2016.
Mark Cutifani, chief executive of Anglo American, commented:
The sale of Drayton marks further progress in the transformation of our globally diversified portfolio, focused around our largest and most competitive assets.