Anglo American to receive first offers for Australian coal mines by September 9 – Reuters

First-round bids for Anglo American's (OTCQX:AAUKF) (OTCQX:NGLOY) Australian coal assets must be submitted by September 9, after the company previously said it expected a deal to be reached by early next year, Reuters reported on Tuesday.

Anglo's (OTCQX:AAUKF) (OTCQX:NGLOY) hit The coal mines include Grosvenor and Moranbah North, as well as three smaller mines, all in the state of Queensland. The package was valued at $4.5 billion by Jefferies before a fire at Grosvenor in June closed the mine. Analysts say it will not reopen before 2026.

The sale is part of a restructuring plan that includes the divestment of De Beers' diamond assets and nickel mines and the spin-off of its South African platinum unit.

Analysts believe Glencore (OTCPK:GLCNF) (OTCPK:GLNCY), already a major supplier of Australian coal, is likely to make a bid for the assets given its strong balance sheet and positive view on coal.

A consortium including Indonesia's Golden Energy and Resources is reportedly considering making a bid, and Yancoal (OTCPK:YACAF), operator of several coal mines in Australia, recently announced that it continues to seek high-quality acquisition opportunities.