Citing unidentified sources, the Financial Times reported that the deal for the Moranbah and Grosvenor coking coal mines was “close to concluding” as of June 26, and BHP’s interest is said to follow its commitment to coal’s long-term future. Anglo, meanwhile, has been on a run of debt restructuring and asset sales over the last several months.

Glencore had also been named as a potential suitor, though some recent reports have indicated the company has since dropped out of the process.

The Times noted that the operations neighbor several other mines in Queensland’s Bowen Basin, where BHP already has an interest via a joint venture with Mitsubishi.