Mining colossus Anglo American has been accused of “greenwashing” by the secretive research outfit Boatman Capital, which claims that a group of South African coal mines it will spin off this week are “worthless”. In its largest attack since targeting UK defence contractor Babcock nearly three years ago, Boatman alleges Thungela Resources’ clean-up costs could be three times greater than the amounts currently disclosed to investors. A 39-page dossier entitled “Thungela Resources Ltd: Drowning in Liabilities”, seen by The Sunday Telegraph, argues that Anglo American has also overstated future coal sales and understated costs. It says: “The demerger allows Anglo to dump enormous environmental costs onto a much less well capitalised company. “To us, this looks like greenwashing: Anglo is claiming to be acting positively by reducing its greenhouse emissions while seemingly washing its hands of clean-up obligations.
Telegraph 5th June 2021 read more »