Anglo seeks swift re-entry at Moranbah mine after underground ignition
Diversified mining major Anglo American is working with industry experts and regulators to expedite re-entry into its Moranbah North coal mine in Queensland, Australia, following a temporary suspension of operations caused by what the company believes was a minor underground ignition.
The incident occurred on March 31, prompting a halt in production at the steelmaking coal mine, which is part of a portfolio Anglo has agreed to sell to US-based Peabody Energy for $3.78-billion.
Anglo said conditions at the site normalised shortly after the event and remain stable, with data and camera footage showing no evidence of damage.
“We are progressing with our staged re-entry management plan and risk assessment in close coordination with Resources Safety and Health Queensland,” Anglo American said in an emailed statement on Thursday.
The miner emphasised that the safety of its workforce remained the top priority and that it was aiming for a safe and timely resumption of operations.
Anglo also acknowledged Peabody’s statement regarding the incident and said it was providing the US company with information related to the suspension. Peabody said on Tuesday it was reviewing all options under the acquisition agreement and engaging with Anglo to better understand the potential impacts.
The deal, signed in November and expected to close by mid-2025, includes a $2.05-billion upfront payment, $725-million in deferred consideration, and up to $1-billion in contingent payments tied to the restart of assets including the Grosvenor mine, which has also been offline following a separate fire last year.
The coal divestment marks a key step in Anglo American’s broader portfolio reshaping strategy, which includes exiting coal, nickel, platinum and diamonds to concentrate on copper and iron-ore.
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