Anglo American, a global mining company, has completed the sale of its 33.3 percent minority interest in Jellinbah Group Pty to Zashvin Pty for a total cash consideration of $1 billion. The transaction includes $912 million received upon closing, in addition to $148 million previously paid. Jellinbah Group owns a 70 percent stake in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia. Anglo-American originally announced the agreement on November 4, 2024, with completion expected in the second quarter of 2025. The company did not operate or market production from these mines. Zashvin, an existing shareholder in Jellinbah alongside Anglo American and Marubeni, is poised to increase its ownership in the joint venture.
Anglo American’s Chief Executive, Duncan Wanblad, stated that the divestment strengthens the company’s balance sheet and accelerates its plan to simplify operations. The company remains focused on its core businesses, including copper, premium iron ore, and crop nutrients, to increase annual copper production to over one million tonnes in the next decade. Zashvin’s James Xu acknowledged Anglo-Americans’ contribution to Jellinbah’s growth and emphasized confidence in Queensland’s coal industry and workforce. Anglo-American continues progressing toward the sale of its remaining steelmaking coal assets to Peabody for up to $3.8 billion.
