Finance
Anglo American Has at Least Three Suitors for Australian Coal Business, Bloomberg News Reports
Published by Global Banking & Finance Review®
Posted on April 23, 2026
2 min readLast updated: April 23, 2026
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Anglo American has attracted at least three potential suitors—Stanmore Resources, Mitsubishi Corp and Indonesia’s PT Buma Internasional—for its Australian steelmaking coal business following the collapse of a $3.78 billion deal with Peabody Energy and ongoing arbitration.
Anglo American has at least three suitors for Australian coal business, Bloomberg News reports
Potential Buyers and Ongoing Divestment Efforts
April 23 (Reuters) - Anglo American has at least three potential buyers for its Australian steelmaking coal business after its unsuccessful deal with Peabody Energy for the assets, Bloomberg News reported on Thursday, citing people familiar with the matter.
Identified Bidders
Australian miner Stanmore Resources, Japan's Mitsubishi Corp and Indonesia-based PT Buma Internasional Grup are among the bidders for the coal assets, the report added.
Company Responses
Anglo American declined to comment on the report while Stanmore, Mitsubishi and Buma Internasional did not immediately respond to Reuters' request for comments.
Timeline for Potential Deal
A deal could be announced in coming months, according to Bloomberg.
Background on Previous Deal and Asset Details
Peabody Energy Bid Withdrawal
Peabody withdrew its $3.78 billion bid for Anglo American's Australian coking coal assets in August, and the London-listed miner initiated an arbitration against the U.S.-based coal miner.
Assets Up for Sale
The assets up for sale include mines in Queensland's Bowen Basin, the world's top steelmaking coal region, and are part of Anglo's wider plans to divest its non-core assets.
Wider Divestment Strategy
Other Asset Sales
Anglo, which has agreed to merge with Canada's Teck Resources to create the world's fifth-largest copper producer, is in the midst of selling its struggling De Beers diamond business and nickel assets. It sold its Platinum business in 2025.
Reporting Credits
(Reporting by Prerna Bedi in Bengaluru; additional reporting by Megha Kumari and Rishab Shaju; Editing by Leroy Leo and Louise Heavens)
Key Takeaways
- •Anglo’s Australian steelmaking coal assets now draw interest from Stanmore, Mitsubishi and PT Buma Internasional after the Peabody deal fell through.(ionanalytics.com)
- •Peabody’s August 2025 withdrawal, citing a fire at Moranbah North mine as a material adverse change, triggered arbitration from Anglo involving claims of wrongful termination.(bloomberg.com)
- •The rebounding metallurgical coal market and recent deals—like Yancoal’s $2.4 billion Kestrel acquisition—underscore strong investor appetite for quality Australian coal assets.(ionanalytics.com)
References
Frequently Asked Questions about Anglo American has at least three suitors for Australian coal business, Bloomberg News reports
1Who are the potential buyers for Anglo American's Australian coal business?
Potential buyers include Stanmore Resources, Mitsubishi Corp, and PT Buma Internasional Grup.
2What happened to Peabody Energy's bid for Anglo American's coal assets?
Peabody Energy withdrew its $3.78 billion bid for Anglo American’s Australian coking coal assets in August.
3When could a deal for Anglo American's coal business be announced?
According to reports, a deal could be announced in the coming months.
4Did Anglo American and the bidding companies comment on the ongoing sale?
Anglo, Stanmore, Mitsubishi, and Buma Internasional did not immediately respond to requests for comment.
5Is there an ongoing dispute between Anglo American and Peabody Energy?
Yes, Anglo American initiated arbitration against Peabody Energy after the withdrawn bid.
