Posted in | News | Coal | Mining Business

Anglo American to Offload Queensland Coal Mine

Anglo American has decided to sell the Callide thermal coal mine in central Queensland located south west of Gladstone. The decision comes as the mining company wants to maintain focus on its high margin export businesses. No value has been placed on the Callide mine by the company.

This would be the third such sale for Anglo American as it begins to focus sharply on its core commodities businesses. It had announced earlier this month that it was selling two of its steel businesses located in the Americas to OneSteel Ltd. The sales would fetch $932 million for Anglo American.

The Callide project produces about 10 million tonnes of thermal coal annually from four mines. The coal is all for domestic sale especially to the state owned CS Energy with whom it has a contract lasting until 2031.

Chief executive of Anglo American’s coking coal unit Seamus French said that the business unit was focused on increasing sales of coking coal which was used to make steel. This did not align it with the company’s growth strategy and so the divestment process would lead to its sale.

Anglo American has no immediate plans to sell Drayton Thermal Coalmine in New South Wale’s Hunter Valley region as most of its coal is sold in export markets.

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Anglo American Plc. (2019, March 19). Anglo American to Offload Queensland Coal Mine. AZoMining. Retrieved on August 07, 2022 from https://www.azomining.com/News.aspx?newsID=1590.

  • MLA

    Anglo American Plc. "Anglo American to Offload Queensland Coal Mine". AZoMining. 07 August 2022. <https://www.azomining.com/News.aspx?newsID=1590>.

  • Chicago

    Anglo American Plc. "Anglo American to Offload Queensland Coal Mine". AZoMining. https://www.azomining.com/News.aspx?newsID=1590. (accessed August 07, 2022).

  • Harvard

    Anglo American Plc. 2019. Anglo American to Offload Queensland Coal Mine. AZoMining, viewed 07 August 2022, https://www.azomining.com/News.aspx?newsID=1590.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit