Anglo Said to Work With Bank of America on More Coal-Mine Sales
- Firm advising on sale of Moranbah, Grosvenor coal assets
- Anglo wants to sell $4 billion of assets this year to cut debt
Anglo American's Cutifani Says Company Is in Good Shape
Anglo American Plc is working with Bank of America Corp. on an expanded sale process for its non-core coal mines in Australia, as it shrinks its business by more than half to weather the commodity-price rout, people with knowledge of the matter said.
Anglo American is being advised by Bank of America on the divestment of its Moranbah and Grosvenor metallurgical coal assets, and it has started talks with potential buyers, according to the people, who asked not to be identified as the information is private. Existing sale processes for Anglo American’s Dawson and Foxleigh coal operations, which are also being run by Bank of America, are continuing with final bids expected in the next few weeks, the people said.