Initial bids for Anglo's Australian coal mines due Sept 9, sources say
MELBOURNE, Aug 20 (Reuters) -First round bids for Anglo American's AAL.L Australian metallurgical coal mines are due by Sept. 9, two sources told Reuters on Tuesday.
Anglo's mines for the steel-making ingredient include Grosvenor and Moranbah North as well as three smaller mines all in Queensland state, a package that broker Jefferies valued at $4.5 billion before the outbreak of a fire at Grosvenor in June.
The process comes as Anglo CEO Duncan Wanblad embarks on a strategy to simplify the miner after rebuffing a $49 billion takeover offer from BHP BHP.AX earlier in the year.
Anglo, which did not immediately respond to an emailed request for comment outside of London hours, said last month it expects to reach a deal for those coal assets by early 2025.
Its restructuring plan also includes divesting its De Beers diamond assets and also its nickel mines, and the demerger of its South African platinum unit.
Reporting by Melanie Burton
Editing by Shri Navaratnam
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