Anglo American has agreed to sell its Australian coal business to privately owned Dhilmar for $3.9bn, marking a major step in the UK-listed miner's restructuring push. The deal strips away one of its oldest and largest operations, freeing capital and management attention for remaining assets.

The transaction ends decades of mining in Australia's Hunter Valley, where Anglo American first established coal production. The $3.9bn price reflects the remaining value in the portfolio, which faced pressure from shrinking margins and tighter emissions rules.

For investors, the sale simplifies the group's portfolio and sharpens its focus on copper, nickel, and other industrial metals where margins look more durable.