Anglo American has agreed to sell its remaining steelmaking coal assets to Dhilmar for up to $3.875 billion, completing the mining company's planned exit from the coal business.

The transaction represents Anglo American's final divestiture of its coal operations, marking the end of the company's involvement in the sector. The sale comes several months after a previous agreement with Peabody Energy for similar assets was withdrawn.

The deal with Dhilmar includes Anglo American's steelmaking coal mining operations, though specific details about the assets and timeline for completion were not immediately disclosed. The transaction value of up to $3.875 billion suggests the final price may depend on certain conditions or performance metrics.

Anglo American's exit from coal aligns with broader industry trends as mining companies increasingly focus on metals needed for energy transition while moving away from fossil fuel assets. The company has been restructuring its portfolio to concentrate on materials used in electric vehicles and renewable energy infrastructure.

The completion of this sale represents a significant milestone for Anglo American's strategic transformation, allowing the company to fully focus on its remaining mining operations in other commodities.