The British mining giant Anglo American announced on Monday the sale to the American Peabody Energy of its steelmaking coal mines in Australia, for a maximum amount of 3.775 billion dollars (3.4 billion francs)
The operation allows him to permanently retire from this activity.
“The sale of our steelmaking coal business is another important step in implementing the strategy we set out in May to create a world-class copper, premium iron ore and nutrients for crops,” said Duncan Wanblad, managing director of the group.
Anglo American announced in May a plan to spin off several activities, including coal for metallurgy, but also platinum and diamonds in South Africa, to concentrate on copper, high-end iron ore and fertilizers. .
This project was presented at the same time as the Australian mining giant BHP embarked on a takeover process, a merger which would have been the most important in the sector in years, but which did not come to fruition.
The operation was particularly motivated by the lucrative prospects for copper, a key metal for the energy transition, as it is used in numerous industrial applications, including the composition of electric vehicle batteries.
Anglo American recently announced the sale of its stake in Australian company Jellinbah for $1.1 billion, a joint venture operating in the steelmaking coal sector.
“All transactions required to transform our portfolio are on track – the demerger of Anglo American Platinum is planned for mid-2025 and we have seen strong interest in our nickel business with the sale process well advanced” , said Mr. Wanblad.
Anglo American, founded in 1917 in South Africa by German-born industrialist Ernest Oppenheimer, is today one of the world’s largest mining companies, listed both in London, where it is headquartered, and in Johannesburg.
This article was automatically published. Sources: ats / awp / afp
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