Anglo American Sells Steelmaking Coal Assets to Peabody Energy for $3.8 Billion

The sale marks a strategic shift for Anglo American as it refocuses on copper, iron ore, and crop nutrients while fending off takeover attempts by BHP.

• Anglo American has agreed to sell its remaining Australian steelmaking coal operations to U.S.-based Peabody Energy for up to $3.8 billion, including upfront and performance-based payments.
• The deal is part of Anglo American's restructuring strategy to streamline its portfolio and focus on copper, premium iron ore, and crop nutrients businesses.
• Anglo American's stock rose nearly 2% following the announcement, while Peabody Energy shares fell 7% in premarket trading.
• The sale comes as Anglo American fends off a £39 billion takeover bid from rival BHP, with the standstill period for a new bid set to expire soon.
• Peabody Energy stated the acquisition would help it meet growing steel demand in Asia, driven by the region's industrial expansion over the last decade.

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