Anglo American plans to sell its steelmaking coal assets in Queensland, Australia, and focus on metals crucial for the energy transition like copper. The company's CEO Duncan Wanblad stated that this decision will help unlock value in their portfolio and secure future growth opportunities.
Anglo American is expected to retain an active greenfields exploration program targeting metals such as copper after it sells its steelmaking coal assets in Queensland as part of its plan to focus on energy transition metals.The company's steelmaking coal business, which received a setback in June when its Grosvenor longwall operation experienced an underground fire and was closed indefinitely, is considered superfluous.
"Of course, we are conscious of the impacts of making such far-reaching changes, particularly on our employees," he said. "We see considerable opportunities for our employees, both in delivering the full potential of Anglo American and in the businesses that we will be divesting or demerging, all of which are high-quality businesses in their own right.
Energy Transition Copper Mining Anglo American Coal Divestment
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