Anglo American to sell Australian coal mines for up to $3.88 billion (updated)
18/05/2026 07:10
Adds details on deal from paragraph 2 May 18 (Reuters) - Anglo American AAL.L said on Monday it has agreed to sell its steelmaking coal mines in Australia to UK-based miner Dhilmar for up to $3.88 billion, as the London-listed firm simplifies its portfolio. The deal comprises $2.3 billion upfront cash and an earnout of 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 American CEO Duncan Wanblad said in a statement. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Mrigank Dhaniwala) ((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150;))