Anglo American investors approve spin-off of S. African thermal coal

  • Reuters
  • Stock Market News
Anglo American investors approve spin-off of S. African thermal coal
Credit: © Reuters.

JOHANNESBURG, May 6 (Reuters) - Anglo American (JO: AMSJ ) plc AAL.L said on Thursday shareholders had approved the spin-off of its South African thermal coal business into a new company, paving the way for its listing in Johannesburg and London next month.

If the transaction meets all other approvals, Thungela Resources Limited is expected to be listed on the Johannesburg Stock Exchange and on the London Stock Exchange on June, 7.

Anglo is shifting away from assets that mine the most polluting fossil fuels and is also looking to exit from its Colombian thermal coal mine.

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