UK-based mining giant Anglo American has announced that it has completed the transfer of its 33.3 percent interest in Australia-based Jellinbah Group, which owns a 70 percent interest in the Jellinbah East and Lake Vermont coal mines, to Zashvin Pty Ltd for A$1.6 billion.
The companies had reached an agreement back in November last year, as SteelOrbis reported previously. Anglo American aims to focus on its copper and premium iron ore operations, and is thus selling off its interests in several coking coal mines in Australia.
The agreement with Zashvin is based on the fact that Anglo American does not operate the Jellinbah mines, nor does it market any of the production volumes from the mines.
