{"id":915866,"date":"2026-06-27T19:12:21","date_gmt":"2026-06-28T00:12:21","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/27\/anglo-american-exits-steelmaking-coal-with-3-9-billion-australian-asset-sale\/"},"modified":"2026-06-27T19:12:21","modified_gmt":"2026-06-28T00:12:21","slug":"anglo-american-exits-steelmaking-coal-with-3-9-billion-australian-asset-sale","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/06\/27\/anglo-american-exits-steelmaking-coal-with-3-9-billion-australian-asset-sale\/","title":{"rendered":"Anglo American Exits Steelmaking Coal With $3.9 Billion Australian Asset Sale"},"content":{"rendered":"
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\"Tsvetana<\/p>\n

Tsvetana Paraskova<\/p>\n

What I Cover
\nTsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,\u2026<\/p>\n

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By Tsvetana Paraskova<\/a> – May 18, 2026, 5:30 AM CDT<\/span><\/p>\n

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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.<\/span><\/p>\n

Anglo American said in May 2024 that it plans to <\/span>divest or demerge<\/span><\/a> its 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.<\/span><\/p>\n

Today, Anglo American <\/span>announced<\/span><\/a> that 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.<\/span><\/p>\n

Anglo American plans to use the cash proceeds to reduce its net debt.<\/span><\/p>\n

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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.<\/span><\/p>\n

“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.<\/span><\/p>\n

“This agreement represents another major step in the simplification of our portfolio ahead of completing our merger with Teck.”<\/span><\/p>\n

Anglo American, which was approached by BHP Group for a potential merger last year, announced in September 2025 that Teck Resources and Anglo American had <\/span>agreed to combine<\/span><\/a> via a merger of equals to create a copper and other critical minerals giant with a market capitalization of over $53 billion.<\/span><\/p>\n

By Tsvetana Paraskova for <\/span>Oilprice.com<\/span><\/a><\/p>\n

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