UK-headquartered Anglo American, one of the world's largest mining companies, has announced that its board of directors has approved its 5 million mt per year Grosvenor metallurgical coal project in the Bowen Basin of Queensland, Australia.
The Grosvenor project is located to the south of Anglo American's Moranbah North metallurgical coal mine and has a projected life of 26 years. Capital expenditure for the project is forecast at US$1.7 billion.
According to the company statement, the Grosvenor project is wholly owned by Anglo American and plays a significant role in the group's strategy to triple metallurgical coal output from its Australian assets by 2020.
In its first phase of development, Grosvenor will consist of a single new underground longwall mine, while a pre-feasibility study for expansion by adding a second longwall at Grosvenor is under way.