Anglo American's steelmaking coal portfolio consists mainly of an 88% interest in the Moranbah North and Grosvenor joint ventures and others.
Anglo American is selling its steelmaking coal business in Australia for up to $3.88 billion (R67.4bn) in cash, as it continues to simplify its portfolio ahead of the merger with Canada-based Teck Resources.
The group said Monday it has agreed to sell its portfolio of steelmaking coal mines in Australia to Dhilmar, a relatively new UK-registered mining company that makes investments across a range of commodities, in surface and underground operations.
Anglo announced a major restructuring in May 2024 that involved the sale of its diamond, platinum, and steelmaking coal assets to focus on copper. This was shortly after BHP made its first and ultimately unsuccessful bid for Anglo. Of the restructuring, only the 85% held De Beers still needs to be sold.
An attempt to sell the Australian coal mines failed last year when the bidder, Peabody Resources, a US and Australia coal producer, withdrew from the $3.78bn deal after underground fires and explosions at Anglo’s Grosvenor and Moranbah North mines.
