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Anglo American|Dhilmar|Peabody|Teck Resources|Australia|Canada|United Kingdom|Copper|Mining|Steelmaking Coal|Bowen Basin|Duncan Wanblad|Queensland
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anglo-american|dhilmar|peabody|teck-resources|australia|canada|united-kingdom|copper|mining|steelmaking-coal|bowen-basin|duncan-wanblad|queensland

Anglo American to sell Australian coal mines for up to $3.8bn

Aquila coal mine, in Australia

Aquila coal mine, in Australia

18th May 2026

By: Reuters

  

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Anglo American said on Monday it will sell its steelmaking coal mines in Australia to UK-based miner Dhilmar for up to $3.88-billion, exiting the sector, cutting debt and streamlining assets ahead of a planned merger with Canada's Teck Resources.

London-listed Anglo is selling the mines in Queensland's Bowen Basin, the world's top steelmaking coal region, as part of its plan to divest or spin off non-core assets ahead of completing the merger with Teck Resources that will form a copper-focused heavyweight.

The deal comprises $2.3-billion upfront cash and up to $1.58-billion linked to coal prices, with proceeds earmarked to cut debt, the company said.

"Through this transaction, we will complete our exit from steelmaking coal," Anglo CEO Duncan Wanblad said in a statement.

Last year, Peabody withdrew its $3.78-billion bid for Anglo's Australian coking coal assets, after the two companies failed to agree on lowering the price following a mine fire.

In parallel with Monday's deal, Anglo continues to pursue the arbitration with Peabody over the collapsed deal, the
British firm said.

Edited by Reuters

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