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Anglo American spinning off thermal coal business

Miner's South African thermal coal assets will be demerged into a new listed company, removing environmental pressure from the lossmaking unit
Anglo American spinning off thermal coal business
  • Thungela Resources will be a new company listed in London and Johannesburg
  • If Anglo American shareholders back the move, they will get one Thungela share for every 10 Anglo shares they hold 

Anglo American (AAL) shareholders will vote on spinning off the miner’s thermal coal assets into a new listed company next month. The plan is to shift the mines, which produce coal that is burned at power stations, into the Johannesburg- and London-listed entity Thungela Resources.

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