Anglo acquires majority stake in Mozambique coking coal project for $555m

Anglo American is to acquire a 58.9% stake in the Revuboè coking coal project in Mozambique, from the privately-owned Talbot Estate mining investment group, for A$540 million ($555 million), Anglo said on Tuesday July 24.

The Revuboè project is a joint-venture with Nippon Steel, which has a 33.1% stake and Posco which holds the remaining 7.8%. According to Anglo, the project currently...


July 24, 2012

12:23 GMT