Anglo American exit South Africa coal business with stake sale to Thungela Resources

In a bid to exit South Africa’s coal business, Anglo American has sold its remaining 8% stake to Thungela Resources for $115 mn, the company said. This comes after it has distributed the majority of its shares to Thungela Resources in Jun’21. Major mining firms have been exiting coal mining business around the globe in an attempt to reduce their carbon footprint.