Anglo American Plc is selling another 6% of its platinum business in a move aimed at increasing the South African unit’s free float ahead of a full exit.

Anglo said it would get $2.05 billion in cash upfront from Peabody, a US coal miner, with another $725 million in deferred payment. The company could receive a further $550 million depending on the coal price and $450 million depending on the reopening of its Grosvenor mine.

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Anglo American Plc raised 9.6 billion rand ($530 million) from the sale of a 6.6% stake in Anglo American Platinum Ltd., a move aimed at increasing the South African unit’s free float ahead of a full exit.

Anglo American Plc raised R9.6 billion ($530 million) from the sale of a 6.6% stake in Anglo American Platinum, a move aimed at increasing the South African unit’s free float ahead of a full exit.

The demerger of Anglo American Platinum is on track for completion by the middle of 2025 and, on this basis, Anglo American does not intend to execute a further market sell-down of its holding ahead of that,