Anglo American approves coal project in Queensland

Business Day reported that Anglo American has approved the USD1.7 billion Grosvenor project in Queensland as it seeks to triple Australian output. Grosvenor, south of the company's Moranbah North mine, will produce 5 million tons a year and a study is under way for an expansion. Anglo American plans to spend USD85 billion in the next decade raising output of coal, copper, iron ore, and other metals and minerals needed in fast-expanding Asian economies. Under the proposals, it will seek to boost Australian production threefold by 2020.

2011-12-07 13:55:18