Anglo okays Australian coking coal project
Diversified mining and marketing company Anglo American last week announced board approval for the Aquila project to extend by six years the life of the Capcoal underground hard coking coal operations at the Grasstree mine, in Queensland, Australia.
The life-of-mine, will be advanced to 2028 at an expected attributable capital cost of $226-million.
Development work is scheduled to begin in September, with first longwall production of premium-quality hard coking coal in early 2022.
In the view of Anglo bulk commodities CEO Seamus French, Aquila will provide a high-margin average annual saleable production of 3.5-million tonnes of attributable premium-quality hard coking coal.
The real, post-tax internal rate of return is expected to be more than 30% and the earnings before interest, taxes, depreciation and amortisation margin 40%.
“The project benefits from low capital intensity,” French said in a release to Creamer Media’s Mining Weekly. It benefits from being able to use existing infrastructure and systems from the adjacent Grasstree mine.
The complex includes the Capcoal opencast mine and the Grasstree underground mine, which are both managed by Anglo American, but with the underground mine 30% Mitsui- owned.
In 2018, the Capcoal opencast mine produced two-million tonnes of metallurgical coal products and Grasstree underground produced 3.6-million tonnes of attributable hard coking coal. As at end-December 2018, Capcoal opencast had a 20-year reserve life.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
