Anglo American has sold its five steelmaking coal mines in Queensland to a UK mining company for up to $5.43bn.The sale to Dhilmar includes Moranbah North and Grosvenor Mines, Capcoal, Roper Creek, Dawson South and Theodore South joint ventures.It also includes the town of Middlemount where the company provides housing, a shopping centre, childcare and a medical centre.Anglo American said it would use the cash proceeds to reduce net debt.“Dhilmar’s leadership brings considerable experience of operating major mining assets, including in steelmaking coal, in Southeast Asia and Canada,” chief executive Duncan Wanblad said in a statement on Monday.“We will work together with the Dhilmar team and with our workforce, local communities, government, customers, and partners to ensure a successful transition.”The sale is subject to conditions, including the usual competition and regulatory clearances, and pre-emption arrangements.It comes after a failed sale to American miner Peabody Energy, which pulled out of the deal citing a “material adverse change” clause following a fire at the Moranbah North mine. Anglo American alleged Peabody wrongfully cancelled the deal.In its statement, Anglo American said it continued to pursue the arbitration with Peabody in relation to its November 2024 agreement to acquire the portfolio. “Anglo American remains confident that the incident at Moranbah North relied upon by Peabody in support of its purported termination of its agreement did not constitute a material adverse change,” the statement to the London Stock Exchange, where Anglo American is listed, read.Read related topics:Brisbane