Latham & Watkins and Paul Weiss are in lead advisory roles as Anglo American agrees to sell part of its Australian mining business to Dhilmar.
Anglo American has accepted a $3.875bn offer from UK-registered privately owned miner Dhilmar for its portfolio of steelmaking coal mines in Australia. The decision sees Anglo American exit from steelmaking coal entirely, ahead of its pending tie-up with Canadian mining company Teck Resources.
Latham acted for Anglo American throughout the deal, with a team led by London corporate partner Emily Cridland. Also on the team were corporate partner Sam Newhouse and restructuring partner Ludmilla Le Grand, as well as tax partner Helen Lethaby, finance partner Hayden Teo and technology partner and payments practice co-chair Christian McDermott.
Working alongside Latham as part of an integrated team was Australian firm MinterEllison, led by energy and resources team head Simon Scott and M&A partner Jordan Phillips.
Latham has worked with Anglo American previously, advising on its merger with Teck, announced last September. Newhouse co-led on this deal, along with New York and Orange County corporate partner Charles Ruck.
Paul Weiss is understood to be advising Dhilmar on the acquisition. The firm has also worked with Dhilmar recently, advising on its $795m acquisition of the Éléonore gold mine in Canada from Newmont Corporation, completed in February 2025.
New York corporate partners Adam Givertz and David Tarr, as well as London partner Kanesh Balasubramaniam led the team on the previous mandate.
Anglo American CEO Duncan Wanblad said: ‘This agreement represents another major step in the simplification of our portfolio ahead of completing our merger with Teck.’
Completion is expected in Q1 2027, subject to customary closing conditions.
