22nd Jan 2015 17:09
LONDON (Alliance News) - Anglo American is considering selling a cluster of coal assets in eastern Australia to try and boost returns under weak commodity prices, the Financial Times reported Thursday, citing people familiar with the matter.
The company is preparing to sell five mines in Queensland and New South Wales as part of a USD3 billion to USD4 billion asset disposal programme which was ordered by Chief Executive Mark Cutani, the paper said. Its Dawson, Foxleigh and Drayton mines will all be primed for a possible sale.
http://www.ft.com/fastft/266182/anglo-american-readies-australian-coalmine-sales
By Joshua Warner; [email protected]; @JoshAlliance
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