Anglo American sells Queensland coal mines to UK firm for up to $5.43bn

Anglo American says it has sold its five steelmaking coal mines in central Queensland to a United Kingdom mining company for up to $5.43 billion.

The sale to Dhilmar Ltd includes Anglo's interests in Moranbah North and Grosvenor Mines, Capcoal, Roper Creek, Dawson South and Theodore South joint ventures.

It also includes the town of Middlemount where the company provides housing, a shopping centre, childcare and a medical centre.

Anglo American chief executive Duncan Wanblad said in a statement that Dhilmar had considerable experience in operating major mining assets, including in steelmaking coal, in South East Asia and Canada.

"We will work together with the Dhilmar team and with our workforce, local communities, government, customers and partners to ensure a successful transition," he said.

The sale is subject to conditions including competition and regulatory approvals.

Deal dispute continues

The sale follows the collapse of an earlier sale to American miner Peabody Energy, which pulled out of the deal using a "material adverse change" (MAC) clause following a fire at the Moranbah North underground mine.

The Peabody sale was also conditional on the neighbouring Grosvenor mine returning to production after an underground explosion.

Mr Wanblad said the company remained in arbitration with Peabody.

Anglo alleged that Peabody had wrongfully terminated the deal, and that an "ignition event" at Moranbah North did not constitute an MAC.

'Wholesale exchange' of communities

Speaking on ABC Tropical North radio ahead of the sale announcement, Isaac Regional Council Mayor Kelly Vea Vea said the sale was not just about the transfer of mining leases.

"We are talking the wholesale exchange of communities out there," Cr Vea Vea said.

"This is over 800 houses, water provision, child care. This is commercial spaces really that go in part with the Anglo American sale."

Councillor Vea Vea said the future of communities and the continued employment of workers had to be at the forefront of the sale.