Besides a sale of its coal business, Anglo is also working on plans to spin off its majority stake in Anglo American Platinum and exit its ownership of De Beers.
Anglo American Plc is considering options to push ahead with a sale of its coal business after an explosion at its flagship Australian mine, including the possibility of selling individual assets or excluding the damaged operation from a potential deal. The plan to exit coal formed part of a dramatic restructuring program announced earlier this year by Anglo, as the London-based miner was trying to fend off a takeover pursuit by larger rival BHP Group.
The plan was thrown into question on Saturday when an methane explosion deep underground started a huge fire at Anglo’s Grosvenor coal mine in Queensland. It’s likely to be several months before the company is able to safely reenter the mine, let alone restart mining. However, the company is reluctant to abandon the sales process despite the setback, given the strong early interest it received in the mines, according to people familiar with the matter.
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