Anglo Coal Spinoff to Buy Controlling Stake in Australian Mine
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Thungela Resources Ltd., South Africa’s largest exporter of coal burned in power-stations, has agreed to buy a mine in Australia as it seeks to diversify its operations.
The Johannesburg-based coal producer, spun off from Anglo American Plc in 2021, has been searching for assets outside South Africa, where shipments are being curbed by rail bottlenecks. Thungela and its co-investors will buy 85% of the Ensham mine from Idemitsu Australia Ltd. for A$340 million ($240 million).