Anglo American Coal: Return to form
AUSTRALIA’S second largest coal producer, South African miner Anglo American, has reaped the benefits of the high price of coking coal as China’s steel industry continues to boom. The company has announced that, after 10 years on the shelf, it would revive the Aquila project, reconfirming its commitment to coal in Australia, and extending the life of the Capcoal operations out to at least 2028. Anglo American has also announced a $1b share buyback program after posting its best first half results since 2011. Internationally, the board has seen two new additions to its non-executive team, and Nolitha Fakude has moved into the executive role of Anglo American chairman of South Africa’s management board. Aquila Anglo American announced it will…