Global mining giant Anglo American could sell all of its Australian coal mines as it looks to offload another $US3 billion-$US4 billion ($4.2 billion-$5.6 billion) in assets this year under a radical restructuring plan. 
Anglo said on Tuesday it will reduce its global portfolio to just 16 assets, and it's bulk commodities mines - including coal and iron ore - would be "managed for cash generation or disposal".  
Anglo said it will focus on diamonds, platinum and copper.
It unveiled the details of its asset sales plan after posting a 62 per cent fall in underlying earnings to $US827 million, and a $US5.6 billion net loss on $US5.7 billion in writedowns.
The mining giant said in   December it would reduce its assets from 55 globally to 20 and cut 85,000 jobs. leaving it with 50,000 workers.
It is now aiming to pare that even further to just 16 assets, and targeting $US3 billion to $US4 billion in asset sales this year, but the final figure is likely to be much higher as it sells of marginal base commodity projects.
"Anglo American will focus on competitive, long life assets with considerable organic growth opportunities that mine consumer-driven materials that are expected to benefit from long term growth trends as the global economy evolves and developing economies mature," chief executive Mark Cutifani said. 
London-headquartered Anglo already had four coal assets for sale in Australia - two of which it has struck deals to sell - as part of its attempt to exit thermal coal. But Tuesday's announcement suggests it could exit Australian coal entirely.
Anglo has been keen to hold onto the Moranbah North coking coal mine, in the Bowen Basin, and at least part of the coking coal Capcoal complex, in central Queensland, its joint venture with Japanese conglomerate Mitsui.
But Moranbah is now on the sale block too. 
The miner's net debt was flat at $12.9 billion in calendar 2015 on the year-earlier period, but gearing rose to 37.7 per cent.
Anglo, the world's fifth biggest miner by market capitalisation, first announced its radical restructure in   December. On Thursday it upped the ante on it amid criticism that Mr Cutifani was not acting with enough urgency. The company sold $US2.1 billion of assets in 2015. 
Anglo's credit rating was cut to junk by Moody's on Monday ahead of the results.
"The company now faces a higher business risk due to deterioration in commodities market conditions, and a longer and more uncertain de-leveraging period than previously expected," the ratings agency said in a statement.
The miner's share price has been decimated over the last 12 months, plunging more than 65 per cent to &pound;3.93. The company now has market capitalisation of &pound;5.1 billion ($10.3 billion) down from &pound;41.5 billion in   February 2011.
However, Mr Cutifani's turnaround plan has found favour with some investors; the company's share price has risen more than 80 per cent from hitting an all time low on   January 20.