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(L-R) Kaitlin Hodby, Leah Thorpe, Layne O'Brien, Brooke Hodby and Maddison Thorpe The Hamilton family Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup dragline mining Bhabie and Paul Dickens Aboutusgeneric_2 Steve Beale and Chris Dunphy, MIPEC csg Sgt Rob Smith and Constable Paul Muller mine Greg Byrne, Downing; Ian Reed, QNP (L-R) Fern, Simon, Phoenix Morgan and River Levi (L-R) Sharlani, Rhythm-Rayne, Eesiar and Khvalee'a. Melanie and Chevy Ohl
(L-R) Kaitlin Hodby, Leah Thorpe, Layne O'Brien, Brooke Hodby and Maddison Thorpe The Hamilton family Jo-Anne Burke, DB Scaffolding; Susan McGuire, Mayogroup dragline mining Bhabie and Paul Dickens Aboutusgeneric_2 Steve Beale and Chris Dunphy, MIPEC csg Sgt Rob Smith and Constable Paul Muller mine Greg Byrne, Downing; Ian Reed, QNP (L-R) Fern, Simon, Phoenix Morgan and River Levi

Miner considers selling the lot
CQ MINER not ruling out the sale of its top shelf mines.
Wednesday 28 January 2015  

ANGLO American is not ruling out adding Foxleigh and Dawson to the list of coal mines up for sale in Queensland.

In December last year the company announced that its Callide mine near Biloela and its Dartbrook mine in New South Wales were both on the market, and that they were reviewing their current coal portfolio in Queensland.

Not surprisingly the review is in response to the poor profitability of many Australian coal mines in the face of low prices and an over supplied market.

In September last year, Anglo’s CEO Mark Cutifani said they were also open to the idea of selling the whole business, if the right deal was found.

"My job is to create value, however that may be shown," he said at the time.

"Our job is to do a good job with the business, and at the end of the day, if somebody sees value, then there's a conversation to be had.

"I'm not anti. I'm very open. I'm not scared by it, but that's not what we're setting this business up for."

Anglo have flagged a reduction in capital spending this year by as much as $1 billion, while at the same time improving productivity on existing operations by 80 per cent.

Mr Cutifani famously said last year that he expects a mine somewhere in the world to shut down every two to three weeks until supply is more in line with demand.


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