Anglo American Plans to Quit Thermal Coal
Anglo American Thermal CoalThe Edge Markets

Anglo American Plans to Quit Thermal Coal

Anglo American recently announced that it will divest from its South African and Colombian thermal coal operations by mid 2023. Anglo American Chief

Anglo American recently announced that it will divest from its South African and Colombian thermal coal operations by mid 2023. Anglo American Chief Executive Mr Mark Cutifani in an annual update to investors said “The company plans to exit its Cerrejon thermal coal mine in Colombia within 1 1/2 to 2 years, while the South African thermal coal exit will happen within 2 1/2 years.”

He added “With the bulk of growth options in copper, PGMs, and now also crop nutrients, we are increasingly positioned to supply those metals and minerals that enable a cleaner, greener, more sustainable world. Production across all minerals will increase by 14% in 2021 and unit costs are expected to fall by 3%. Capital expenditure would be between USD 5.7 billion and USD 6.2 billion next year, reflecting deferred 2020 spending and new investments.”

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