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.

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.

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.