The multi-national mining company Anglo-American intends to slowly move away from thermal coal as part of its “just transition”. It says it will engage in incremental expansion in viable projects but not in long-term growth of new assets. Thermal coal is a form of coal burned to generate electricity. It is a fossil fuel and contributor to greenhouse gas emissions.
The company, which is a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal, has halved its footprint from thermal coal in the past five years. Currently, it exports 30-million tonnes of export thermal coal annually, mainly from South Africa. In 2017, the company generated $28.9 billion in revenue and $4.06 in profit.