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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.
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The company will use its cash reserves to reduce its net debt.
·Brazil
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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.
·United States
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Coverage Details
Total News Sources21
Leaning Left3Leaning Right3Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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