Anglo American to Sell Steelmaking Coal Assets to Dhilmar for Up to $3.875 Billion
By Adam Whittaker
Anglo American said it agreed to sell its remaining steelmaking coal assets to Dhilmar for up to $3.875 billion in cash, enabling it to complete a planned exit months after St. Louis-based coal producer Peabody Energy withdrew from a similar deal.
The London-listed miner has been simplifying its portfolio ahead of a merger with Teck Resources that will create one of the world's largest copper producers. Its steelmaking coal assets were earmarked for sale as part of a restructuring effort started after it fended off a takeover bid from rival BHP Group in 2024.
Selling the assets hasn't been easy. In August of last year, Peabody withdrew from a $3.78 billion agreement after a fire and subsequent shut down at one of a mines central to the deal. Anglo has started arbitration proceedings and said Monday these efforts will continue.
The new deal with Dhilmar--a privately held, U.K.-registered mining company--comprises a $2.3 billion upfront cash payment, and up to $1.575 billion in performance-related additional fees. Anglo said it will use the cash proceeds to pay down net debt.
The deal is expected to close by the first quarter of 2027.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
May 18, 2026 02:48 ET (06:48 GMT)
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