As Anglo American prepares to receive the first round of bids for its coal assets this week, the miner will be braced for the offers to be affected by the devastating fire at one of the flagship mines.
The coal sale will be a crucial test of Anglo’s ability to deliver on its ambitious disposal programme launched after it spurned BHP’s £39bn unsolicited takeover attempt earlier this year.
The sale, which includes five coking coal mines in Queensland, Australia, was widely expected to fetch between $4bn and $5bn. However a fire in June at Grosvenor, its largest mine, has complicated the deal.
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