Anglo, Led By South Africa's Duncan Wanblad, Loses 3.8 Billion Coal Deal

Peabody cancels 3.8 billion Anglo coal deal, citing Moranbah North mine fire as a material adverse change.

Anglo plans arbitration for damages Peabody seeks return of 75 million deposit from failed transaction.

Anglo H1 2025 revenue drops to 8.95 billion underlying EBITDA falls 20 percent to 2.95 billion.

Anglo American, a diversified global mining giant led by South African executive Duncan Wanblad, faced a major setback after Peabody Energy Corp. pulled out of its 3.8 billion deal to buy Anglos steelmaking coal assets.

Peabody cited a fire at Anglos Moranbah North mine in Queensland , saying it represented a material adverse change MAC and justified canceling the agreement. Anglo disagrees and plans to seek damages through arbitration. Each side is confident in its own position from a legal perspective, Jefferies analysts noted, warning that the dispute could weigh on both companies shares.

The sale of the coal assets had been central to Anglos plan to simplify operations and raise cash, while also countering BHP Groups 49 billion takeover attempt. The agreement had included Peabody reselling one of Anglos Australian mines to an Indonesian buyer.