Anglo American takes coal deposits in Mozambique

SYDNEY (Dow Jones) - Anglo American PLC apparently wants her coal-pillar on the African continent with a 630-million-USD takeover boost in Mozambique. The mining giant based in London and Johannesburg take about 58.9% stake in a joint venture for the exploitation of coking and thermal coal at Revuboe River, a person familiar with the transaction said on Monday. Anglo American wants to buy the share of the Talbot Group. The other partners are Japan's Nippon Steel Corp and South Korea's Posco. Your consent is valid, according to another person familiar with the transaction to be safe.

From September 2013, 17 million tonnes of coking and thermal coal will be mined. Nor are details such as the mining licenses by the Mozambican government to clarify the report said. Includes the total incidence of approximately 1.4 billion tons.

Coal mining is undergoing a wave of consolidation. The largest mining companies worldwide are currently looking for large deposits of coal to fuel the growth in emerging economies like China and India as well as its own corporate profits.

Anglo would benefit from being on Revuboe River coking coal also occurs. It is far more rare than thermal coal and achieves almost the same cost reduction in the commodity markets are twice as high a price. Coking coal with high quality comes almost exclusively from a few regions in Australia, Colombia, North America, Russia, Mongolia and Mozambique.