'Keep it in the Ground' and divestment campaigns beginning to bite

Besieged miner Anglo American has confirmed itself as the likely biggest seller of assets in the global mining sector this year, upgrading its target for disposals to $US6 billion this year.

The loss-making miner sold $US2.1 billion of assets in 2015, and wants to offload a further $US3 billion or $US4 billion of assets in 2016 to reach the target.

Among the assets Anglo has been trying to sell are a cluster of marginal Australian coal mines, and the company confirmed that its best Australian coal assets, Grosvenor and Moranbah, were now on the market as well.

"We have deemed all of the coal assets in australia as non-core," said Anglo chief executive Mark Cutifani​.

Read The Sydney Morning Herald story - ”Australian mines on block in Anglo American's firesale.”

(The “Keep it in the Ground” combined with the divestment of fossil fuels campaign appears to be having a useful effect in that those assets are becoming increasingly stranded – Robert McLean).