November 27, 2019 / 7:40 AM / 2 months ago

Anglo American to sell 12% stake in Australia mine for about $141 million

FILE PHOTO: The logo of Anglo American is seen on a jacket of an employee at the Los Bronces copper mine, in the outskirts of Santiago, Chile March 14, 2019 Picture Taken March 14, 2019. REUTERS/Rodrigo Garrido

(Reuters) - Miner Anglo American Plc (AAL.L) said on Wednesday it plans to sell a minority stake of 12% in its Grosvenor coking coal mine in Australia for about $141 million to a consortium of Japanese companies.

The consortium — which includes Nippon Steel Corp (5401.T), Mitsui & Co Ltd (8031.T), Nippon Steel Trading Corp (9810.T), Shinsho Corp (8075.T), JFE Mineral Co Ltd — also owns a 12% stake in Anglo’s Moranbah North mine that provides the coal processing infrastructure for Grosvenor.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta

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