Initial bids for Anglo’s Australian coal mines to take place by September 9, Reuters sources say

By Melanie Burton

MELBOURNE (Reuters) – First-round bids for Anglo American’s ( JO: ) Australian metallurgical coal mines are due by Sept. 9, two sources said on Tuesday, as CEO Duncan Wanblad takes initial steps to streamline the company after rejecting the takeover. offer from BHP.

Anglo’s mines for the steelmaking ingredient include Grosvenor and Moranbah North, as well as three smaller mines, all in Queensland state, a package Jefferies valued at $4.5 billion before a fire at Grosvenor in June. The mine remains closed and is unlikely to reopen before 2026, analysts say.

Wanblad is embarking on a strategy to support the miner, focusing on after rejecting BHP’s $49 billion takeover bid earlier this year.

Anglo, which declined to comment, said last month it expected to reach a deal for the coal assets by early 2025.

Its restructuring plan also includes divesting its De Beers diamond assets and its nickel mines, as well as winding up its platinum unit in South Africa. Standard Chartered (OTC:) has been appointed to lead the nickel sale, according to one of the sources, who was not authorized to speak publicly on the matter. Standard Chartered did not immediately respond to an emailed request for comment.

POTENTIAL BUYERS

Glencore (OTC: ), already a major Australian coal supplier, is expected to bid for the assets given its favorable view of the commodity and its strong balance sheet, according to analysts.

The London-listed miner this month opted to keep its coal business, considering spinning it off, as it completed its purchase of Canada’s coking coal assets Teck Resources (NYSE: ). A spokesman for Glencore declined to comment.

Indonesian buyers are also expected to make an appearance.

A consortium including Golden Energy and Resources (GEAR), backed by Indonesia’s Widjaja family, and private Australian company M Resources is considering making a bid, a source familiar with the matter told Reuters.

Indonesian group Delta Dunia, which runs its Buma coal mining services business in Australia, said last month it planned to grow through acquisitions.

Delta Dunia Group chief executive Iwan Fuad Salim told Reuters this month that the company would continue to “look at opportunities as they arise as part of our growth strategy”, but declined to elaborate further.

Yancoal, which operates several coal mines in Australia, “continues to seek high-quality acquisition opportunities,” it said in an earnings report on Monday. A spokesman did not immediately return an emailed request for comment.