Anglo coal mine fire: It may take months to be extinguished
A fire at Anglo American’s biggest metallurgical coal project in Australia has halted production, with the miner saying it may take several months for the blaze to be extinguished.
“The mine team is working with specialist teams from the Queensland Mines Rescue Service and the regulatory authorities to extinguish the underground fire, prior to being able to assess the steps toward a safe re-entry into the mine,” Anglo said in the statement. “These procedures are expected to take several months as a result of the likely damage underground.”
The fire could mean the sale of Grosvenor and the nearby Moranbah North coal project — among Anglo’s five mines of the fuel in Queensland — will take longer than expected and the bidding price will be lower, Jefferies analyst Christopher LaFemina said in a note on Monday. The researcher had expected those two mines to fetch about $3 billion.
Grosvenor reached first output in 2016 but was closed in mid-2020 after an explosion which seriously injured five workers. It only returned to production in February 2022.
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