Anglo to Sell Australia Coking Coal Mines for $3.88 Billion

Anglo American Plc agreed to sell its steelmaking coal mines in Australia to Dhilmar Ltd. for as much as $3.88 billion in cash, as the mining company continues to reshape its business.

Anglo is in the process of a complete transformation of its business. As part of a strategy to fend off an approach from BHP Group in 2024, the company unveiled a radical restructuring plan that included exiting diamonds, coal and platinum. Since then it has struck its own deal to buy Teck Resources Ltd. to create one of the world’s biggest copper miners.