ANGLO American has sold a share of its Grosvenor mine to a Japanese consortium.

The 12 per cent share will bring the Grosvenor mine ownership structure in line with its neighbour, Moranbah North mine.

The consortium, consisting of Nippon Steel, Mitsui & Co, Shinsho, Nippon Steel Trading and JFE Mineral, will pay out $US141 million for the share.

The move will help streamline processing at both sites and improve efficiency.

The Grosvenor mine uses Moranbah North's coal processing infrastructure, where debottlenecking, expansion and product blending options offer considerable cost, productivity and margin benefits for the integrated operation.

>>>READ MORE: Moranbah team wins national mines rescue competition<<<

Seamus French, Anglo bulk commodities CEO, said the shared ownership was an important step forward in unlocking untapped value.

Moranbah North mine is next to Grosvenor mine. The two are now part-owned by Anglo American and a Japanese consortium.
Moranbah North mine is next to Grosvenor mine. The two are now part-owned by Anglo American and a Japanese consortium.

"Our ability to expand the plant, debottleneck various processes, and have the flexibility to blend our naturally high quality products more effectively, all support the long term competitiveness of what is already a world-class asset," he said.

"I am pleased to be building on the successful relationships with our joint venture partners in delivering Moranbah-Grosvenor's full potential for the benefit of all our stakeholders."

Anglo has been consistently offloading its coal operations since 2014.

Despite a decrease this year, the company recently increased its metallurgical coal guidance for 2020 to an estimated 26-29 million tonnes.


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