trending Market Intelligence /marketintelligence/en/news-insights/trending/SoqVT3nz6w1jp3YFaaMWEQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Report: BHP, Rio Tinto, Glencore eye Anglo's Australian coal assets

Industry Top Trends 2021: Metals and Mining

Q3: U.S. Solar and Wind Power by the Numbers

Path to Carbon-Free Power Generation by 2035

The Growing Importance of Data Centers for European & U.S. Renewable Projects

Report: BHP, Rio Tinto, Glencore eye Anglo's Australian coal assets

Mining majors BHP Billiton Group, Rio Tinto, Glencore Plc and U.S. private equity firm arevying for Anglo AmericanPlc's metallurgical coal assets in Australia, Reuters reportedApril 13, citing "several sources familiar with the matter."

The sales process, which is being run by Bank of AmericaMerrill Lynch, is moving to the second round and the interested parties havesigned nondisclosure agreements, according to the report. A dealfor Anglo's Moranbahand Grosvenorcould value the mines at US$1.5 billion.

Several mining bankers told the newswire that BHP was likelyin the lead for acquiring the assets through BHP Billiton Mitsubishi Alliance, which operates minesclose to the two Anglo projects.

Apollo was recently said to launch a joint with for Anglo's niobium andphosphates business in Brazil.

In December 2015, Anglo said it will close or as many as 35 miningoperations, including its niobium, phosphates and Australian thermal coalbusinesses, under an "aggressive" restructuring and shift its focustoward a small number of cash-generating key assets.