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

Reuters
·1-min read
FILE PHOTO: Logo of Anglo American is seen on a jacket of an employee at the Los Bronces copper mine, in the outskirts of Santiago

JOHANNESBURG (Reuters) - Anglo American plc 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.

(Reporting by Tanisha Heiberg; editing by Carmel Crimmins)