- Anglo American said it had agreed to sell a minority stake in its Grosvenor mine in Australia's Queensland state to Japanese companies for $141m.

The deal was predicated on the company eqaulising the ownership structure across its metallurgical coal operations at Grosvenor and the neighbouring Moranbah North mine.

Moranbah North was 88% owned by Anglo American, with 12% owned by a consortium of Japanese companies, while the more recently-commissioned Grosvenor mine was wholly owned by the company.

Anglo American said it would replicate the ownership structure of Moranbah North at Grosvenor, through the agreed sale of a 12% interest in the Grosvenor mine to the same consortium partners.

It said the move would align the interests of all of the owners and facilitate the delivery of value creation opportunities. At 9:42am: [LON:AAL] Anglo American PLC share price was +26.25p at 2092.75p

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