What happened to Anglo American's previous deal with Peabody Energy for its Australian steelmaking coal business, and why did it collapse?

Anglo American's $3.8 billion sale of its Australian steelmaking coal business to Peabody Energy Corp. collapsed last year after a fire at the Moranbah North mine — an asset that Peabody said constituted about half the deal's value. The fire followed a separate 2024 fire at Anglo’s Grosvenor mine, its second-largest metallurgical project in Australia and also part of the Peabody agreement; while Moranbah North has since restarted production, Grosvenor remains offline.

Who are the current potential buyers for Anglo American's Australian steelmaking coal assets, and what is the status of the sale process?

Stanmore Resources Ltd., Mitsubishi Corp., and PT Buma Internasional Grup are among the current bidders for Anglo American’s Australian steelmaking coal business, with a suitor and deal potentially announced in the coming months; the sale process is being managed by Goldman Sachs Group Inc. and Morgan Stanley, according to people familiar with the matter who spoke on condition of anonymity.

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Anglo American has identified three potential buyers for its Australian steelmaking coal business following a failed $3.8 billion sale to Peabody Energy due to mine fires.

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