Speaking of coal though... article in ABC says they are now...

Speaking of coal though... article in ABC says they are now looking to sell all their coal assets in Australia fast!

https://www.abc.net.au/news/2024-05-15/anglo-american-mining-bhp-coal-coking-steelmaking-bowen-basin/103848430

Anglo American will sell all of its Australian coal mines, including five in Queensland, after rejecting a takeover bid from rival BHP.

Anglo American chief executive Duncan Wanblad said the changes would come in "urgently" and the sale of its Australian assets would be used to "reset" the company's balance sheet.

The 107-year-old London-based company said the move would "create uncertainty for its workforce", however there had been "strong buyer interest" in the high quality assets.

It owns five mines in Queensland's Bowen Basin – Moranbah North, Capcoal, Foxleigh, Dawson and Callide, which produce both metallurgical and thermal coal.

"Anglo American intends to implement the changes in a manner that recognises the impact of such changes on its employees, with appropriate planning and engagement with relevant stakeholders," it said.

Anglo American CEO Duncan Wanblad says there is interest in the five Queensland mines. (Supplied: Anglo Saxon)

Earlier this week the London-based mining group knocked back BHP's $64.6 billion offer, saying it undervalued the company.

Steven Boxall from Mackay's Resource Centre of Excellence said there may be bumpy road ahead but expected the mines would sell fast given the high prices of steelmaking coal, produced at three of Anglo Americans Queensland sites.