| Mon 5 Jul 2010, 15:23 | | AGL - Anglo American Plc - Anglo American Agrees US$500 Million Sale Of |
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AGL
ANAAL
AGL - Anglo American Plc - Anglo American Agrees US$500 Million Sale Of
Undeveloped Coal Assets In Australia
Anglo American plc
Incorporated in the United Kingdom
(Registration number: 3564138)
Short name: Anglo
Share code: AGL
ISIN number: GB00B1XZS820
Anglo American agrees US$500 million sale of undeveloped coal assets in
Australia
Anglo American plc ("Anglo American") announces that it has entered into a
conditional agreement with a consortium, composed of Korea Electric Power
Corporation, POSCO and Cockatoo Coal Limited, to sell its interests in five
undeveloped coal assets in Australia for A$580 million (approximately US$500
million) in cash.
The assets comprise two wholly-owned underground coal deposits in New South
Wales (Bylong and Sutton Forest) and Anglo American`s share in three open cut
coal deposits in Queensland (Collingwood, Ownaview and Taroom), all of which are
held 51% by Anglo American and 49% by Mitsui. The assets have total estimated
JORC compliant attributable resources of 847 million tonnes.
The transaction is subject to customary regulatory approvals, Anglo American
board approval, Cockatoo Coal Limited obtaining necessary finances and Mitsui`s
pre-emptive rights over the Queensland assets. The transaction is expected to
be completed in the fourth quarter of 2010.
For further information, please contact:
United Kingdom
James Wyatt-Tilby, Media Relations
Tel: +44 (0)20 7968 8759
Caroline Metcalfe, Investor Relations
Tel: +44 (0)20 7968 2192
Leisha Wemyss, Investor Relations
Tel : +44 (0)20 7968 8607
South Africa
Pranill Ramchander, Media Relations
Tel: +27 (0)11 638 2592
Anna Mulholland, Investor Relations
Tel: +27 (0)11 373 6683
Notes to Editors:
Anglo American plc is one of the world`s largest mining companies, is
headquartered in the UK and listed on the London and Johannesburg stock
exchanges. Its portfolio of mining businesses spans precious metals and minerals
- in which it is a global leader in both platinum and diamonds; base metals -
copper and nickel; and bulk commodities - iron ore, metallurgical coal and
thermal coal. Anglo American is committed to the highest standards of safety and
responsibility across all its businesses and geographies and to making a
sustainable difference in the development of the communities around its
operations. The company`s mining operations and extensive pipeline of growth
projects are located in southern Africa, South America, Australia, North America
and Asia.
www.angloamerican.co.uk
05 July 2010
Sponsor: UBS South Africa (Pty) Ltd
Date: 05/07/2010 15:23:01 Produced by the JSE SENS Department.
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