Anglo American has reached an agreement to sell its 33.3 per cent minority interest in Jellinbah to Zashvin for $1.6 billion.

As a family that has been with Jellinbah since its inception, our increased investment not only reflects our confidence in Queensland’s coal industry but also our commitment

Anglo has agreed to sell its 33.3% stake in Jellinbah Group, a JV that owns 70% interest in the Jellinbah East and Lake Vermont coal mines.

This strategic divestment follows Anglo American’s plan to streamline operations, which now include systematic exits from its platinum group metals, diamonds, and steelmaking coal sectors.

Anglo American has agreed the sale of its stake in a joint venture that operates two Australian steelmaking coal mines, as the miner readies to exit the market.

Copper-, iron-ore- and crop-nutrient-focused Anglo American reported on Monday that it expects to complete the sale of a minority interest it holds in an Australian steelmaking coal business in the second quarter of next year.

Anglo American has agreed to sell its stake in an Australian coal mining joint venture for AS$1.6bn (US$1.1bn) as chief executive Duncan Wanblad pushes ahead with radical plans to streamline the business.

The global miner sold its interest in two steelmaking-coal mines in Australia for around $1.1 billion, advancing its coal-division selloff.