Global mining giant Anglo American has announced a landmark divestment deal, agreeing to sell its entire portfolio of five steelmaking coal mines in Queensland, Australia, to United Kingdom-based mining firm Dhilmar for a total consideration of up to $5.43 billion.
The transaction covers a broad range of assets beyond just the mining operations, including the major producing mines of Moranbah North and Grosvenor, the Capcoal project, Roper Creek, and the Dawson South and Theodore South joint venture holdings. It also transfers ownership of the townsite of Middlemount, where Anglo American has long provided core community infrastructure: employee housing, a local shopping center, childcare facilities, and a public medical center.
In a statement released Monday, Anglo American Chief Executive Duncan Wanblad highlighted Dhilmar’s deep industry credentials to oversee the assets going forward. “Dhilmar’s leadership brings considerable experience of operating major mining assets, including in steelmaking coal, in Southeast Asia and Canada,” Wanblad said. “We will work together with the Dhilmar team and with our workforce, local communities, government, customers, and partners to ensure a successful transition.”
The deal is not yet final, however. It remains subject to standard pre-closing conditions, including mandatory competition and regulatory approvals, as well as pre-emption rights held by existing joint venture partners.
This transaction marks a second attempt to sell the Queensland coal portfolio after a previous deal with U.S. mining firm Peabody Energy collapsed in 2024. Peabody walked away from the original acquisition agreement citing a “material adverse change” to the assets following a fire incident at the Moranbah North mine. Anglo American has disputed Peabody’s cancellation, arguing the withdrawal was wrongful.
The company confirmed Monday that it is continuing to pursue arbitration proceedings against Peabody related to the terminated 2024 purchase agreement. In a regulatory filing with the London Stock Exchange, where Anglo American is publicly listed, the firm reaffirmed its position: “Anglo American remains confident that the incident at Moranbah North relied upon by Peabody in support of its purported termination of its agreement did not constitute a material adverse change.”
Anglo American noted that proceeds from the sale to Dhilmar will be allocated to reducing the company’s net debt, supporting its broader balance sheet restructuring strategy.