Anglo American and Malabar Coal make a deal

Anglo American and Malabar Coal have entered a sale and purchase agreement for the former to sell its 88.17 percent interest in the Drayton thermal coal mine and Drayton South project, located in New South Wales, Australia. Anglo American ceased mining activities at the Drayton mine during 2016.

Mark Cutifani (pictured), Anglo American CEO, has said the agreement indicates further progress as the copmany focuses its global portfolio on its largest and most competitive assets.

According to reports, the transaction, which is still subject to several conditions and the terms of which are confidential, will be effected via a sale of shares in the subsidiary companies holding Anglo American's interest in Drayton.