Mining giant Anglo American has struck a deal to sell its remaining coal operations in Australia to a US rival for up to 3.78 billion US dollars (£3 billion).
London-listed Anglo said US coal miner Peabody Energy would pay 2.05 billion dollars (£1.63 billion) in cash upfront, with 725 million US dollars (£577 million) deferred as well as up to 550 million US dollars (£437 million) over five years dependent on prices and performance, and a possible further 450 million US dollars (£358 million) linked to the reopening of the Grosvenor mine.
