(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)

By Antony Currie

MELBOURNE, Nov 26 (Reuters Breakingviews) - Anglo American has just joined BHP and others disposing of coal assets in securing a cut from new owners if the fossil fuel's price soars. It's savvy but also breezily undercuts their objections to governments pulling similar tricks to reduce costs for consumers.

Full view will be published shortly.

Follow @AntonyMCurrie on X

CONTEXT NEWS

Anglo American on Nov. 25 agreed to sell most of its steelmaking coal business to Peabody Energy for up to $3.8 billion in cash.

Peabody will pay just over $2 billion when the deal closes, with another $725 million handed over in annual instalments over four years.

In addition, Anglo will receive two payments tied to the reopening of the Grosvenor mine, which has been closed since a methane fire in June. The company will get $250 million a month after it restarts operations and another $200 million two years later.

On top of that, Peabody could pay Anglo up to a further $550 million over five years if coal prices are above certain levels.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on antony.currie@thomsonreuters.com))