Anglo American Sells Australian Coal Mines for $3.88 Billion to Cut Net Debt
Updated
Updated · Bloomberg · May 18
Anglo American Sells Australian Coal Mines for $3.88 Billion to Cut Net Debt
3 articles · Updated · Bloomberg · May 18
$3.88 billion is the maximum value of Anglo American's agreement to sell its Australian steelmaking coal mines to Dhilmar Ltd. in cash.
The package includes $2.3 billion upfront and a price-linked earnout worth as much as $1.58 billion, tying part of the final proceeds to future pricing.
Anglo said it will use the sale proceeds to reduce net debt, advancing efforts to strengthen its balance sheet.
Why is a Canadian gold miner betting billions on coal mines a global giant is desperately trying to exit?
Does selling coal mines make a company greener, or does it just move the world's pollution into the shadows?
As Asia doubles down on coal-based steel, is the industry locking in emissions for decades to come?