Anglo American to Sell Australian Coal Mines for up to $3.88 Billion
The deal includes $2.3 billion upfront and up to $1.58 billion in performance-linked payments as Anglo exits steelmaking coal.
- On Monday, Anglo American announced it will sell its Queensland steelmaking coal mines to UK-based miner Dhilmar for up to $3.88 billion, completing the firm's exit from the steelmaking coal sector.
- The sale simplifies operations ahead of Anglo American's planned $50bn merger with Teck Resources, focusing on divesting non-core assets and cutting debt ahead of the deal's completion.
- Dhilmar will pay $3.22 billion upfront with an additional $2.21 billion linked to coal prices, subject to regulatory approval with completion expected by the first quarter of 2027.
- Parallel to this agreement, Anglo continues to pursue arbitration against Peabody following the collapse of a previous $3.78 billion bid last year when the two companies failed to agree on price adjustments.
- Led by CEO Alexander Ramlie, Dhilmar is a privately held mining group that acquired the Eleonore gold mine in Canada from Newmont Corporation last year, bringing deep operational experience.
23 Articles
23 Articles
Houses, town water supply sold in mining mega‑deal
It is not every day a mining deal comes with houses, childcare centres and the town water supply thrown in. But in central Queensland, a big slice of country town Middlemount has been included in a deal struck to sell off a multinational company’s Australian steelmaking mines. However Anglo American’s mega deal has come under fire from a local mayor, warning it amounts to the sale of “entire communities”. Anglo American is set to leave Queenslan…
The company will use its cash reserves to reduce its net debt.
Billionaire Alexander Ramlie-Backed Dhilmar To Buy Australian Coking Coal Mines For $3.9 Billion
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 additional of up to $1.6 billion depending on the price of coking coal within five years after the deal’s close.
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