Anglo American has agreed to sell its portfolio of steelmaking coal mines in Australia to Dhilmar Ltd. for up to $3.875 billion, which comprises an upfront cash consideration of $2.3 billion payable by Dhilmar at completion and a price-linked earnout of up to $1.58 billion. Anglo says it will use the cash proceeds to reduce its net debt and simplify its portfolio ahead of completing its merger with Teck Resources Ltd.
“Dhilmar’s leadership brings considerable experience of operating major mining assets, including in steelmaking coal, in Southeast Asia and Canada. We will work together with the Dhilmar team and with our workforce, local communities, government, customers and partners to ensure a successful transition. Through this transaction, we will complete our exit from steelmaking coal,” said Duncan Wanblad, CEO of Anglo American.
Anglo’s steelmaking coal portfolio consists primarily of an 88% interest in the Moranbah North and Grosvenor joint ventures; a 70% interest in the Capcoal joint venture; an 86.36% interest in the Roper Creek joint venture; a 51.0% interest in the Dawson joint venture, Dawson South joint venture, Dawson South Exploration joint venture and the Theodore South joint venture; and a 50.0% interest in the Moranbah South joint venture.
Dhilmar is a privately held, UK-registered mining company with leadership in both surface and underground mining operations. In 2025, Dhilmar acquired the Éléonore gold mine in Canada from Newmont Corp.
The transaction is subject to customary competition, regulatory clearances and pre-emption arrangements, and is expected by the first quarter of 2027.
Source: www.coalage.com
