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Anglo American said it has demerged its thermal coal operations in South Africa as the mining giant seeks to move away from thermal coal and decarbonise its operations.
The demerger, subject to the approval of Anglo American's shareholders on 5 May 2021, will be implemented through the transfer of Anglo American's thermal coal operations in South Africa to a new holding company, Thungela Resources, the company said.
Thungela shares will be separated from Anglo American and be listed on Johannesburg Stock Exchange and the London Stock Exchange.