UK-based mining giant Anglo American has announced that, within the scope of its plans to focus on its copper and premium iron ore operations, it has decided to sell off its remaining coking coal mines in Australia to US-based coal miner Peabody Energy for $3.8 billion, subject to competition and regulatory approvals.
Accordingly, Peabody Energy will buy the Moranbah North, Capcoal, Aquila and Grosvenor mines, which are expected to produce 11.3 million mt of premium hard coking coal in 2026. The transaction in question is expected to be completed by the third quarter of 2025. As a result, the US miner will have an advantage in serving the world’s largest and fastest growing steel markets.
Earlier this month, Anglo American had signed an agreement with Australia-based Zashvin Pty Limited for the sale of its 33.3 percent interest in Australia-based Jellinbah Group, which owns a 70 percent interest in the Jellinbah East and Lake Vermont coal mines, to Zashvin for cash proceeds of A$1.6 billion, as SteelOrbis reported previously.