Anglo's Grosvenor coal project to produce 5Mtpa
Johannesburg, Dec 6 (I-Net Bridge) - Anglo American (AGL), one of the world's top five resources groups, on Tuesday said it expects the Grosvenor metallurgical coal project to cost around US$1.7 billion or about R13.6 billion.
The group has just approved the greenfield project in the Bowen Basin of Queensland, which lies immediately south of its Moranbah North metallurgical coal mine.
Grosvenor is expected to produce five million tonnes per annum of metallurgical coal from its underground longwall operation over a projected life of 26 years.
The project forms a major part of the group's strategy of tripling production of metallurgical coal from its Australian assets by 2020.
"Grosvenor is the first of our next phase growth projects and will initiate our industry leading production growth of metallurgical coal from our Australian business over the next decade," said chief executive Cynthia Carroll.
First development coal from the project is expected in 2013 and the commissioning of the longwall in 2016.
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