Indonesian Tycoon's Company Acquires Australian Coal Mine for US$3.9 Billion
Indonesian Tycoon’s Company Acquires Australian Coking Coal Mine for US$3.9 Billion. Jakart a, CNBC Indonesia — A mining group backed by Indonesian conglomerate Alexander Ramlie, via Dhilmar, is reported to be acquiring Anglo American’s coking coal mine in Australia for a transaction value of US$3.9 billion, equivalent to Rp 68.64 trillion (assuming an exchange rate of Rp 17,600 per US$1).
According to Forbes, the British company will pay US$2.3 billion upon completion of the deal in the first quarter of 2027. In addition, there is a potential further payment of up to US$1.6 billion that will depend on movements in the price of coking coal over the five years following closing.
The acquisition comes amid rising global demand for coking coal used as a feedstock in steel production.
It is said the mine had been planned to be sold to American miner Peabody Energy in November 2024. However, the deal did not materialise after a fire in March 2025 forced Moranbah North Mine in Australia to temporarily halt operations.
Anglo American said it would continue with arbitration against Peabody concerning the failed deal.
Anglo American is the world’s third-largest exporter of coking coal, supplying customers across Asia, Europe and South America. The company operates five mines which produced 8.2 million tonnes of coking coal last year. Its two largest mines – Moranbah North and Grosvenor – are both located in Queensland, Australia.
Coking coal, the principal input used in steelmaking, is expected to see demand rise as global steel consumption grows. According to the World Steel Association, global steel demand is projected to rise 0.3% in 2026 to 1.7 billion tonnes, before increasing 2.2% in 2027 to 1.8 billion tonnes.
With an estimated net worth of US$1.4 billion, Alexander Ramlie ranks among Indonesia’s wealthiest individuals. He serves as CEO of Dhilmar, which in 2025 acquired the Éléonore gold mine in Canada from US mining giant Newmont for US$795 million. Ramlie is also a director of Amman Mineral International, which operates one of Indonesia’s largest copper and gold mines.