Story perspectives

Anglo American Sells Coal Mines for $3.88 B, Cuts Debt

5/19/2026

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Summary

Anglo American Sells

Anglo American agreed to sell its Bowen Basin steelmaking coal mines to UK-based Dhilmar for $3.88 billion.
The $2.3 billion and $1.58 billion tied to coal prices will cut debt before Anglo American merges with Teck Resources, completing its exit from steelmaking coal.
Shares fell 1.7% as the deal, which follows a failed $3.78 billion sale after a mine fire, leads to arbitration and fits Anglo American’s shift toward copper and minerals.

Summary

Anglo American Sale

Anglo American expects to close the Dhilmar Limited sale in Q1 2027 with an upfront US$2.3 billion cash payment.
The transaction depends on competition and regulatory clearances and pre-emption rights, which Anglo views as strengthened by Dhilmar’s Southeast Asian and Canadian mining leadership.
Anglo American argues the Moranbah North incident is not a material adverse change in its arbitration with Peabody over the November 2024 steelmaking coal portfolio deal.

History

Historical Context

During 2015 BHP reshaped its coal business, highlighted by the May spin-off of South32 into a copper-focused miner. The BMA joint venture, BHP’s former coal arm, now supplies roughly 58 million tonnes a year to more than 90 customers. This restructuring mirrors a broader retreat by Australian miners from steel-making coal.

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Anglo American Sells

Anglo American agreed to sell its Bowen Basin steelmaking coal mines to UK-based Dhilmar for $3.88 billion.
The $2.3 billion and $1.58 billion tied to coal prices will cut debt before Anglo American merges with Teck Resources, completing its exit from steelmaking coal.
Shares fell 1.7% as the deal, which follows a failed $3.78 billion sale after a mine fire, leads to arbitration and fits Anglo American’s shift toward copper and minerals.

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