Anglo bets heavily on met coal; eyes expansion

摘要

Anglo American is betting heavily on the prospects of its higher value Australian metallurgical coal operations and could commit to as much as $0.4bn in capital expenditure to ramp up its Moranbah North/ Grosvenor complex output capacity by 30-40% to 24 mt/y ROM in the next three years. The potential new capex, for which a board approval is targeted for mid-2020, will be on top of approval in July of $226m for the Aquila Lifex underground project at the Capcoal operations, which will replace the Grasstree underground mine. Grasstree is scheduled to deplete economic reserves by the end of 2021 and has around 15.7 mt of saleable coal remaining.