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Anglo American has agreed to sell its Australian steelmaking coal portfolio to Peabody Energy for approximately $3.8 billion.
Anglo American has agreed to sell its Australian steelmaking coal portfolio to Peabody Energy for approximately $3.8 billion. The deal includes an upfront payment of $2.05 billion, deferred payments of $725 million, and additional conditional payouts based on coal prices and the reopening of the Grosvenor mine, which had been suspended earlier this year. The sale is part of Anglo American's strategy to shift its focus toward commodities like copper, premium iron ore, and crop nutrients.