London, Feb 23, 2026, 08:52 GMT — Regular session
- Anglo American shares slipped roughly 0.1% at the start of London trading.
- The CEO is eyeing a coal sale deal by mid-year, while the De Beers exit remains on track for 2026.
- Q1 production figures are due out April 28, the next item on the calendar.
Shares of Anglo American Plc (AAL.L) slipped in early deals on Monday in London, with the market digesting new remarks from CEO Duncan Wanblad about asset sales. By 0848 GMT, the stock had fallen 5 pence to 3,612 pence, moving in a range from 3,604 up to 3,660 pence. (Google)
Timing is crucial here: Anglo wants to offload unwanted assets before it merges with Teck Resources. Investors are laser-focused on concrete steps like signed deals, binding offers, or regulatory sign-offs—not just headline strategy announcements.
Anglo is pitching its future as a leaner operation, betting big on copper, with high-quality iron ore and crop nutrients still in the mix. The immediate challenge: pulling off asset sales just as the company calls the current markets choppy.
Wanblad told Business Day he’s looking to have a deal signed for Anglo’s steelmaking coal assets “by the middle of the year,” calling it “quite a strong auction.” Steelmaking coal, essential for producing steel, is on the block as Anglo moves ahead. He added the company is still targeting a De Beers sale before year-end, while the Teck tie-up remains hung up on Chinese and South Korean regulatory approvals. (Business Day)
Messiness isn’t new for the Australian coal sale. Last year, after an underground blast at Moranbah North, Peabody Energy ditched its $3.8 billion bid—leaving Anglo scrambling for another buyer.
Anglo’s latest numbers highlighted where things are tight. Underlying EBITDA landed at $6.4 billion, with net debt running to $8.6 billion. The company posted a $3.7 billion loss for shareholders, including a $2.3 billion pre-tax impairment—non-cash, tied to De Beers. The board declared total cash dividends of $0.23 a share. (Anglo American)
Deal progress, not how the mine actually performs, is what’s moving the share price right now, traders say. The next catalyst? Hard evidence about potential buyers—and the numbers they’re willing to put on the table.
There’s also a downside: bidders might seize on soft diamond demand to push De Beers’ valuation lower. Another hitch—if the coal sale process stalls like it did last year, Anglo could remain tied to assets it’s looking to shed, muddying the merger timeline.
Investors are keeping an eye out for any statements from Botswana that might shed light on De Beers’ ownership and structure going forward. Updates on the last hurdles for the Teck deal are also on the radar. Either development could have a bigger impact on the stock than shifts in commodity prices during a slow session.
Investors won’t have to wait long—the Q1 2026 production report lands April 28 at 0600 GMT. It’s the next big test for Anglo’s story on operations and costs as the company pushes its reshaping plan. (Anglo American)
