File picture: IOL

JOHANNESBURG - Anglo American on Monday completed sale of  its 88.17 percent interest in Drayton thermal coal mine in Australia to Malabar Coal.

The Drayton thermal coal mine and Drayton South project are located in New South Wales, Australia. The agreement of the sale and purchase of Drayton mine was first announced in May 2017. 

Anglo ceased mining activities at the Drayton mine during 2016. The terms of the transaction remain confidential.  

Anglo American, Mark Cutifani, said: "The sale of Drayton marks further progress in the transformation of our globally diversified portfolio, focused around our largest and most competitive assets."

 - African News Agency (ANA)