Anglo American delivers first coal from Grosvenor

RNS Number : 9911X

Anglo American PLC

12 May 2016

 

12 May 2016
Anglo American delivers first metallurgical coal from Grosvenor project

Anglo American announces the commissioning of its Grosvenor metallurgical coal longwall operation in the Bowen Basin of Queensland, Australia. The Grosvenor project, which was approved for development at the end of 2011, has delivered its first coal from its underground longwall seven months ahead of schedule and more than US$100 million below budget.

Anglo American expects Grosvenor to produce 3.2 million saleable tonnes in 2016. At full capacity, the Grosvenor longwall is capable of producing 7.5 million saleable tonnes per year. When fully ramped up, Grosvenor is expected to operate at an all in sustaining unit cost of A$110 per tonne (approximately US$82 per tonne at the current exchange rate).

Seamus French, CEO of Bulk Commodities for Anglo American, said: "We have delivered the Grosvenor metallurgical coal project ahead of schedule and below budget, with an outstanding safety record and in line with our environmental obligations. The Grosvenor mine project has taken more than seven million man hours to construct, with almost 6,000 personnel inducted onto the project.

"We began the installation of the longwall just 24 days before its first shear and production of coal - a truly remarkable feat and a result of the team's technical expertise and the modular approach we have taken to our underground longwall operations in Australia. We look forward to shipping the mine's high quality product to our steel customers across Asia as production begins to ramp up in the months ahead. While Grosvenor may not fit Anglo American's strategic portfolio choices, its long term commercial attractiveness is beyond question."

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby [e-mail] Tel: [phone] Marcelo Esquivel [e-mail] Tel: [phone]		UK Paul Galloway [e-mail] Tel: [phone] Ed Kite [e-mail] Tel: [phone]
South Africa Pranill Ramchander [e-mail] Tel: [phone] Australia Madeline Cooper [e-mail] Tel: [phone]		Sheena Jethwa [e-mail] Tel: [phone]

Notes to editors:

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.

As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.

www.angloamerican.com

 

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