Anglo American Exits Steelmaking Coal With $3.9 Billion Australian Asset Sale
China Burns More Coal and Gas as Wind and Nuclear Output Falls Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Anglo American has agreed to sell its steelmaking coal assets in Australia to Dhilmar Limited for up to $3.875 billion in cash, exiting the steelmaking coal business as the mining giant continues its restructuring that began two years ago.
Anglo American said in May 2024 that it plans todivest or demergeits diamond, platinum, steelmaking coal, and nickel businesses as it seeks to radically simplify its portfolio to focus on its copper, premium iron ore, and crop nutrients assets.
Today, Anglo Americanannouncedthat it had agreed to sell its portfolio of steelmaking coal mines in Australia to Dhilmar Limited for a cash consideration of up to US$3.875 billion.
The agreed cash consideration of up to US$3.875 billion comprises an upfront cash consideration of US$2.3 billion payable by Dhilmar at completion and a price-linked earnout of up to US$1.575 billion.
Anglo American plans to use the cash proceeds to reduce its net debt.
SetOilPrice.comas a preferred source in Googlehere.
The Anglo-Dhilmar deal for the Australian steelmaking coal assets is subject to a number of conditions, including customary competition and regulatory clearances, and pre-emption arrangements, with completion expected by the first quarter of 2027.
"Through this transaction, we will complete our exit from steelmaking coal, delivering aggregate cash proceeds of up to US$4.9 billion, given the prior completion of the sale of our interest in the Jellinbah mine for approximately US$1 billion," Anglo American CEO Duncan Wanblad said.
"This agreement represents another major step in the simplification of our portfolio ahead of completing our merger with Teck." Anglo American, which was approached by BHP Group for a potential merger last year, announced in September 2025 that Teck Resources and Anglo American hadagreed to combinevia a merger of equals to create a copper and other critical minerals giant with a market capitalization of over $53 billion.
Chinese Refiners Slash Crude Runs to Lowest Level Since 2022 Russia Quietly Adds Four LNG Carriers to Its Arctic Dark Fleet Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Strait of Hormuz Faces Full Shutdown as Iran Escalates Standoff Kuwait Declares Force Majeure as U.S.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | ▲ +0.34% |
| WTI Crude | $96.90/bbl | ▲ +0.21% |
| EN590 Diesel | $846/MT | ▲ +0.18% |
| Jet Fuel A-1 | $1090/MT | ▲ +0.55% |
| Mazut M100 | $450/MT | ▼ -0.15% |
| Bitumen 60/70 | $470/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $470/MT | ▼ -0.44% |
| Urea 46% Gran | $650/MT | ▲ +1.12% |
| NPK 16-16-16 | $460/MT | ▼ -0.28% |
| Nat Gas TTF | $15.42/MMBtu | ▲ +0.92% |
Price alerts · Industry news
Comments
Post a Comment