Initial bids for Anglo's Australian coal mines due by Sept 9, sources say
Adds no comment from Anglo in paragraph 4, details on potential acquirers from paragraph 6
By Melanie Burton
MELBOURNE, Aug 20 (Reuters) -First-round bids for Anglo American's AAL.L Australian metallurgical coal mines are due by Sept. 9, two sources said on Tuesday, as CEO Duncan Wanblad takes initial steps to simplify the company after rejecting a takeover offer from BHP BHP.AX.
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 a fire at Grosvenor in June. The mine remains shut and is unlikely to reopen before 2026, analysts say.
Wanblad is embarking on a strategy to shore up the miner with a focus centred on copper after rebuffing BHP's $49 billion takeover offer earlier in the 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 the demerger of its South African platinum unit. Standard Chartered has been appointed to run the nickel sale, according to one of the sources, who was not authorised to speak publicly about the matter. Standard Chartered did not immediately reply to an emailed request for comment.
POTENTIAL BUYERS
Glencore GLEN.L, already a major supplier of Australian coal, is expected to make a bid for the assets, given its favourable view on the commodity and its strong balance sheet, according to analysts.
The London-listed miner opted this month to keep its coal business, having considered spinning it off, as it completed its buyout of Teck Resources' TECKb.TO Canadian coking coal assets. A Glencore spokesperson 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 Australian privately owned company M Resources is considering making a bid, a source familiar with the matter told Reuters.
Indonesia's Delta Dunia Group DOID.JK, which runs its Buma coal mining services business in Australia, said last month it planned to grow through acquisitions.
Delta Dunia Group Director Iwan Fuad Salim told Reuters this month the company would continue to "look at opportunities when they arise as part of our growth strategy," but declined to elaborate further.
Yancoal YAL.AX, which operates several coal mines in Australia, "continues to look for high quality acquisition opportunities," it said in an earnings report on Monday. A spokesperson did not immediately return an emailed request for comment.
Reporting by Melanie Burton; Additional reporting by Neha Arora in New Delhi; Editing by Shri Navaratnam and Jamie Freed
Activos relacionados
Últimas noticias
Descargo de responsabilidades: Cada una de las entidades de XM Group proporciona un servicio de solo ejecución y acceso a nuestra plataforma de trading online, permitiendo a una persona ver o usar el contenido disponible en o a través del sitio web, sin intención de cambiarlo ni ampliarlo. Dicho acceso y uso están sujetos en todo momento a: (i) Términos y Condiciones; (ii) Advertencias de riesgo; y (iii) Descargo completo de responsabilidades. Por lo tanto, dicho contenido se proporciona exclusivamente como información general. En particular, por favor tenga en cuenta que, los contenidos de nuestra plataforma de trading online no son ni solicitud ni una oferta para entrar a realizar transacciones en los mercados financieros. Operar en cualquier mercado financiero implica un nivel de riesgo significativo para su capital.
Todo el material publicado en nuestra plataforma de trading online tiene únicamente fines educativos/informativos y no contiene –y no debe considerarse que contenga– asesoramiento ni recomendaciones financieras, tributarias o de inversión, ni un registro de nuestros precios de trading, ni una oferta ni solicitud de transacción con instrumentos financieros ni promociones financieras no solicitadas.
Cualquier contenido de terceros, así como el contenido preparado por XM, como por ejemplo opiniones, noticias, investigaciones, análisis, precios, otras informaciones o enlaces a sitios de terceros que figuran en este sitio web se proporcionan “tal cual”, como comentarios generales del mercado y no constituyen un asesoramiento en materia de inversión. En la medida en que cualquier contenido se interprete como investigación de inversión, usted debe tener en cuenta y aceptar que dicho contenido no fue concebido ni elaborado de acuerdo con los requisitos legales diseñados para promover la independencia en materia de investigación de inversiones y, por tanto, se considera como una comunicación comercial en virtud de las leyes y regulaciones pertinentes. Por favor, asegúrese de haber leído y comprendido nuestro Aviso sobre investigación de inversión no independiente y advertencia de riesgo en relación con la información anterior, al que se puede acceder aquí.
