AAL.L, SMR.AX, 8058.T: Anglo American Resumes Sale of Australian Steelmaking Coal Assets

Anglo American Resumes Sale of Australian Steelmaking Coal Assets

Apr 23, 2026 10:38 UTC

AAL.L, SMR.AX, 8058.T

Medium term

Anglo American Plc has restarted the sale process for its steelmaking coal business in Australia, with a deal expected to be announced in the coming months. The company is currently in discussions with at least three potential buyers as it seeks to offload its Queensland-based assets. The renewed effort follows a significant setback last year when a proposed sale to Peabody Energy Corp. was derailed. The collapse of that transaction was attributed to a fire at one of the mines, which disrupted the acquisition process. Among the current bidders are Stanmore Resources Ltd., Mitsubishi Corp., and PT Buma Internasional Grup. The assets in question include the Moranbah North coal mine located in Queensland, Australia. To manage the divestment, Anglo American has appointed Goldman Sachs Group Inc. and Morgan Stanley as financial advisors. The move is seen as part of a broader strategic effort to streamline the company's portfolio and reduce its exposure to coal assets. While the final sale price has not been disclosed, the outcome will be closely watched by industry participants as a benchmark for the current valuation of steelmaking coal assets in the Australian market.

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