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Anglo American has agreed to sell its Australian steelmaking coal business to privately held Dhilmar Limited for total cash proceeds of up to $3.875 billion. The deal includes $2.3 billion upfront and a price-linked earnout of up to $1.575 billion, marking Anglo American’s full exit from the steelmaking coal segment.
The sale covers key Queensland coal assets, including interests in Moranbah North, Grosvenor, Capcoal, Dawson and other joint ventures. Anglo American said the proceeds will help reduce net debt as the company reshapes its portfolio ahead of its planned merger with Teck Resources. Completion is expected by the first quarter of 2027, subject to regulatory approvals and other conditions.
For the steel industry, the transaction is significant as steelmaking coal remains a critical raw material for blast furnace-based production. The deal could influence global coking coal supply positioning and future raw material strategies.
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