Anglo American reports progress on portfolio transformation

Anglo American has reinitiated a formal sale process for its the remaining steelmaking coal business.
Diversified mining group Anglo American has reported progress on its portfolio transformation strategy, which aims to unlock value from its portfolio and accelerate consistently stronger shareholder returns.
In an update to the LSE and JSE on Friday, Anglo American reported that the sale of its nickel business to MMG Singapore for $500-million was awaiting final regulatory approval from the European Commission.
In platinum, Anglo American completed a demerger of 51% of its stake in Anglo American Platinum in June this year, followed by the sale of its remaining 19.9% interest in September for proceeds of R44.1-billion, effectively exiting the metal.
Steelmaking coal, however, has proven more complex. The company completed the sale of its 33.3% stake in Jellinbah Group in January 2025 for A$1.6-billion. However, its agreement with Peabody Energy to sell the remainder of its steelmaking coal business fell through in August, prompting Anglo American to reinitiate a formal sale process.
The miner also confirmed that “good progress” was being made on the divestment or demerger of De Beers, with a dual-track separation and structured sale process under way.
Meanwhile, development of the Woodsmith crop nutrients project in the UK continues, though at a moderated pace. Anglo American’s interim results indicated that critical work, including the sinking of a 1.6-km service shaft and the completion of a full feasibility study, is ongoing, with forecast capital expenditure for 2025 remaining around $0.3-billion.
The update confirms the company’s compliance with post-offer intention statements made under the City Code on Takeovers and Mergers regarding nickel, platinum, and other assets.
The portfolio simplification process comes as Anglo American progresses its merger with Teck Resources, which will turn the merged entity into a top-five copper producer with more than 70% exposure to the metal across Canada, the US and Latin American.
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