Anglo American Finalizes Early Sale of Jellinbah Stake

Anglo American has completed the sale of its 33.3% stake in Jellinbah Group Pty Ltd to Zashvin Pty Ltd ahead of schedule. The transaction, initially expected to close in the second quarter of 2025, brings in total cash proceeds of AUD1.6 billion (approximately USD1.0 billion), including AUD228 million previously received.

Jellinbah Group holds a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia. Zashvin, previously a 33.3% shareholder, now increases its stake in the venture, alongside Marubeni.

The sale marks the completion of Anglo American’s exit from its steelmaking coal business as part of its broader asset divestment strategy. This follows the company's November 2024 agreement with Peabody Energy Corp for the sale of the Grosvenor mine in Queensland, Australia, for USD3.78 billion.

Anglo American did not operate the Jellinbah mines or manage the marketing of their production. CEO Duncan Wanblad stated that the transaction strengthens the company’s balance sheet, achieving an earlier-than-expected cash realization.