Anglo American has attracted at least three potential buyers for its Australian steelmaking coal assets, Bloomberg News reported on Thursday. The renewed interest comes after a previous deal with Peabody Energy fell apart last year.
Among the bidders are Australian miner Stanmore Resources, Japan’s Mitsubishi Corp, and Indonesia-based PT Buma Internasional Grup, according to people familiar with the matter. A deal could be announced in the coming months.
Anglo American declined to comment. Stanmore, Mitsubishi, and Buma Internasional did not immediately respond to requests for comment.
What happened with Peabody
The assets were previously the subject of a $3.78 billion bid from Peabody Energy. However, the U.S.-based coal miner withdrew its offer in August. Anglo American subsequently launched arbitration proceedings against Peabody over the collapsed deal.
The failed transaction left the assets in limbo. Now, with multiple suitors back in the picture, Anglo appears closer to finding a buyer for one of its most significant remaining divestments.
What’s being sold
The assets include mines in Queensland’s Bowen Basin — the world’s top region for steelmaking coal. These operations are a key part of Anglo’s broader strategy to shed non-core businesses and refocus its portfolio.
Anglo has already sold its platinum business in 2025. It’s also in the process of offloading its struggling De Beers diamond unit and nickel assets.
Meanwhile, the company has agreed to merge with Canada’s Teck Resources. That combination would create the world’s fifth-largest copper producer — the commodity Anglo sees as central to its future.
The coal sale is one of the final pieces in a major transformation for a miner that is rapidly reshaping what it looks like.
