Anglo American sold its steelmaking coal mines in Australia to Dhilmar Limited (“Dhilmar”), a United Kingdom registered company, for US$3.875 billion in cash.
About US$3.875 billion, will be paid upfront by Dhilmar.
Duncan Wanblad, CEO of Anglo American, said the company will use the cash proceeds to reduce net debt.
“Our agreement for Dhilmar to acquire our steelmaking coal business in Australia is testament to the high quality of these assets and our people. Dhilmar’s leadership brings considerable experience of operating major mining assets, including in steelmaking coal, in Southeast Asia and Canada. We will work together with the Dhilmar team and with our workforce, local communities, government, customers, and partners to ensure a successful transition” said Wanblad.
The money will be received by Anglo by the first quarter of 2027.
Picture: Supplied