nglo American has agreed to sell its steelmaking coal business in Australia to Dhilmar for up to $3.88 billion, marking a significant step in its restructuring efforts ahead of a merger with Teck Resources. This transaction follows a failed attempt to sell the mines last year and highlights Anglo's focus on reducing debt and shifting its portfolio towards copper.

Under the deal, Indonesian billionaire Alexander Ramlie's UK-based Dhilmar will pay $2.3 billion in cash upon the completion of the transaction in the first quarter of 2027 and an…

Anglo American says it has sold its five steelmaking coal mines in central Queensland to a UK mining company Dhilmar Ltd for up to $5.43 billion.

Deal marks major step in merger plans after previous sale was derailed last year