British multinational mining company Anglo American has paused production at its Grosvenor steelmaking coal mine in Queensland, Australia, after battling an underground fire.
The company reported that all emergency protocols were adhered to and workers were safely evacuated from the mine without any injuries.
It added that the mine team is collaborating with specialist teams from the Queensland Mines Rescue Service and regulatory authorities to extinguish the underground blaze.
Due to the anticipated damage underground, these procedures are expected to span several months.
Anglo American’s steelmaking coal business is expected to yield approximately 8mt of product in the first half of 2024, with the Grosvenor facility producing around 2.3mt.
For the full year 2024, the production outlook for the business is between 15mt and 17mt.
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By GlobalData
The company noted that the Grosvenor facility was initially expected to yield around 3.5mt, reflecting reduced production in the second half of the year owing to a “planned longwall move”.
In May this year, mining giant BHP announced it will not make a formal offer to acquire Anglo American after its £39bn (A$58.63bn) takeover proposal was rejected.
The proposal included separate demergers, which required Anglo American to distribute its interests in South Africa’s Anglo American Platinum and Kumba Iron Ore to shareholders.
BHP stated that its offer would deliver immediate value to Anglo American shareholders, enabling them to capitalise on the long-term benefits resulting from the consolidation of the mining giants.
Anglo American’s board declined the offer due to concerns about its complex structure and execution risks.
