[miningmx.com] – ANGLO American was seeking thermal coal assets in
Australia and Indonesia amid declining prices for potential targets, said Reuters citing
Norman Mbazima, head of Anglo American’s thermal coal unit.
“We are actively looking. The multiples have been coming down of late as prices of
coal have come down,” Mbazima told Reuters in an interview. Mbazima said the group
was also interested in Mozambique which is primarily prospective for its coking coal
assets.
Any potential mine Anglo might buy would come with a large portion of thermal coal
as well, Mbazima told Reuters.
“We are very interested in Mozambique and we have been looking there for
prospects,” he said.
