JOHANNESBURG (miningweekly.com) – Diversified miner Anglo American would not proceed with its $555-million acquisition of a 58.9% stake in the Revuboè metallurgical coal project in Mozambique.
The global miner announced in July last year that it would buy the stake in the 1.4-billion-ton hard coking and thermal coal project from the Talbot Estate.
However, the deal had been subject to various conditions precedent, which had not been satisfied.
Anglo American said it would continue with its objective of establishing a position in the emerging metallurgical coal basin in Mozambique.