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The Paul McGuire Memorial Dachshund Race raised over $4000 for the RACQ Capricorn Rescue Helicopter Service. (L-R) Tony, Jackie, Daly, Layla and Ruby Smith. Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup csg Tara Flaherty and Rachel Mackie Best Dressed Gent winner Robin Sellar. fifo mine Aboutusgeneric_1 (L-R) Tiffany Maskel, Senior Youth Girls runner up Maddison Hite, Senior Youth Girls winner Nicola Pickering and Ben Hungerford. mining (L-R)Tina Vebel, Merill Bulst and Nick Bulst Aboutusgenericimage_3 Aboutusgeneric_2 (L-R) Trackside with Isaac Regional Councillor Jane Pickles Mayor Anne Baker and Deputy Mayor Geoff Bethel at the 2017 Middlemount Race Day on Saturday, August 5.
The Paul McGuire Memorial Dachshund Race raised over $4000 for the RACQ Capricorn Rescue Helicopter Service. (L-R) Tony, Jackie, Daly, Layla and Ruby Smith. Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup csg Tara Flaherty and Rachel Mackie Best Dressed Gent winner Robin Sellar. fifo mine Aboutusgeneric_1 (L-R) Tiffany Maskel, Senior Youth Girls runner up Maddison Hite, Senior Youth Girls winner Nicola Pickering and Ben Hungerford. mining (L-R)Tina Vebel, Merill Bulst and Nick Bulst Aboutusgenericimage_3

Four mines up for sale?
GLOBAL miner reconsidering its once significant Central Queensland growth strategy.
Wednesday 29 April 2015  

BRAZILIAN  miner Vale has appointed a global bank to assess whether to sell off its four Central Queensland coal projects.

Being considered for sale are its two operating mines - Carborough Downs and Isaac Plains - as well as its half-built underground mine, Eagle Downs, and the undeveloped Belvedere mega-project near Moura. All but the Belvedere project are within 50 kilometres of Moranbah.

Given the current coal price and its location, the Belvedere project seems the most likely to be put up as part of any full or partial sale.

In 2012, Vale indicated the cost of developing the Belvedere coal project to be around $2 billion with an initial production of two million tonnes per annum (Mtpa) of coking coal and full production of 10Mtpa for 30 years.

If built the behemoth project would generate around 1000 jobs.

Vale is a global diversified mining company with more than 139,000 employees and contractors worldwide and 1000 in Australia.

However, its main commodity is iron ore, with the coal business a relatively late addition to its portfolio assets.

Talk of a possible sale has been around for some time, generally in the same context as Anglo American flagging the sale of its coal assets.  

In February, Anglo American confirmed its Foxleigh, Dawson, Callide and Dartbrook mine were being considered for sale.

At the time, Anglo American’s coal chief, Seamus French, said at the mines were high-quality assets expected to generate significant interest.

“The four assets included in the sale package represent an impressive resource base of high-quality export coal, a long history of benchmark operational performance and good infrastructure access,” Mr French said.

While Anglo American said the sale made strategic sense for them, they have ruled out a fire sale and will only move forward if a reasonable price can be obtained.


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