Anglo American sells New Largo project for $71m

Anglo American on Monday said it had sold the New Largo thermal coal project and Old New Largo closed colliery in South Africa for ZAR 850m ($71m).

The project was bought by historically disadvantaged South Africans and the Industrial Development Corporation SOC.

New Largo's principal asset is the approximately 585Mt Coal Resource, with the related mining right, that is well-positioned to supply Eskom's new Kusile Power Station.

New Largo is located in South Africa and its principal asset is the approximately 585Mt Coal Resource, with the related Mining Right, that is well-positioned to supply Eskom's new Kusile Power Station.