Anglo American working on Aussie coal sale, restart at Moranbah North

10th Apr 2025 07:41

(Sharecast News) - Anglo American said in an update on Thursday that it was continuing to work with Peabody Energy to complete the sale of its Australian steelmaking coal assets, confirming that efforts were underway to satisfy the remaining "customary" conditions outlined in the definitive agreements announced in November last year.

The FTSE 100 miner said the transaction, unveiled on 25 November, involved the sale of its portfolio of steelmaking coal mines in Australia to US-based Peabody.

Separately, Anglo American reported progress in addressing the recent suspension of operations at its Moranbah North mine in Queensland.

The company said the temporary halt followed what was believed to have been a minor ignition underground on 31 March.

Conditions at the site stabilised shortly after the incident, and data and camera footage showed no evidence of damage.

Anglo American said it was working closely with safety regulators and independent experts to support a safe re-entry into the mine and a prompt resumption of operations.

At 0849 BST, shares in Anglo American were up 8.93% at 1,922.4p.

Reporting by Josh White for Sharecast.com.