Anglo American buys into Mozambique coal project

In July 2012, the estate of Ken Talbot agreed to sell the Group’s majority 58.9% interest in the Revuboe metallurgical and thermal coal project in Mozambique to Anglo American plc. This will align the London-listed, mega-mining, outfit with the two other owners of this massive resource (estimated to contain 1.4 gigatonnes of the black stuff): Nippon Steel Corp (holding a 33.3% interest) and South Korea’s POSCO (with a 7.8% interest). See http://moneytometal.org/index.php/Talbot_Group_Investments (scroll to bottom).