Anglo American completes Jellinbah stake sale
The Jellinbah and Lake Vermont coal mines have a combined production capacity of 8.6 million tonnes per year. (Image courtesy of Jellinbah Group.)
Miner Anglo American said on Wednesday it had completed the sale of its 33.3% stake in Jellinbah Group to Zashvin Pty Ltd for total cash proceeds reaching A$1.6 billion (nearly $1 billion).
The agreement for the stake sale in Jellinbah, a joint venture in Australia, was announced in November and was previously expected to be completed by the second quarter of 2025, the company said.
($1 = 1.6026 Australian dollars)
(By Chandini Monnappa; Editing by Savio D’Souza)
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