On May 6, shareholders of the miner Anglo American approved the company’s proposal to divest the South African thermal coal business and form a new company, paving the way for the listing of the new company next month.
It is understood that the thermal coal assets of South Africa after the split will be formed into Thungela Resources, and the existing shareholders of Anglo American will hold equity in the new company. If the transfer process goes smoothly, the newly formed company is expected to be listed on the Johannesburg Stock Exchange and the London Stock Exchange on June 7.
With increasingly stringent environmental protection requirements, Anglo American is divesting most of its fossil fuel business. In addition, the company also plans to withdraw from its Colombian thermal coal business. (The internet)