Anglo American has agreed to sell its 33.3% minority interest in Jellinbah Group, a joint venture that owns a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia, to Zashvin A$1.6 billion (US$1.1 billion).
Zashvin is an existing 33.3% shareholder in Jellinbah alongside Anglo American and Marubeni.
“The cash proceeds of A$1.6 billion reflect the exceptional quality of the Jellinbah business. Our process to sell the rest of our steelmaking coal business – being the portfolio of steelmaking coal mines that we operate in Australia – is now at an advanced stage and we are on track to agree terms in the coming months,” said CEO Duncan Wanblad.
The sale is subject to customary regulatory approvals and is expected to be completed in the second quarter of 2025.
Source: Anglo American