Business

Anglo-American puts Central Qld mines on the market

ANGLO-AMERICAN has put its Moranbah South, Moranbah North and Grosvenor coalmines up for sale.

The announcement came on Tuesday despite the company denying rumours in December about the sale of the mines, when news broke it would sell more than half its assets globally.

It hopes to reduce its debt to less than $10 billion by the end of 2016, with the goal of reaping $3-4 billion from asset sales this year.

The company's other CQ mines Dawson, Callide and Foxleigh have been on the market since last February.

In a media release Coal COE Seamus French said engagement with potential buyers had begun.

"The Moranbah North, Grosvenor and Moranbah South assets in the Bowen Basin at Moranbah will be sold as a package as one of the most significant, high quality metallurgical coal businesses in the world with a combined resource base of over half a billion tonnes as at 2014.

"The sale process is under way and is expected to take several months."

Moranbah North, Grosvenor and Moranbah South coal mines would be sold as a package due to their locality and because they shared some infrastructure.

Lock the Gate Alliance spokesperson Rick Humphries urged government to ensure the mines were only sold to a company which could ensure rehabilitation costs.

"Anglo American should not be allowed to sell its Grosvenor and Moranbah coalmines without the Queensland Government vetting the buyer to ensure they have the capacity to do the right thing and clean up the mess left behind."

The Australian Manufacturing Workers' Union has called on the company to immediately consult with employees and for Federal Member for Capricornia Michelle Landry to take a stand against any move that would see mass job losses in the region.

Local AMWU Organiser Jason Lund said that members were concerned for their future employment and the survival of local communities.

"Employees at Moranbah North, Grosvenor, Capcoal, Foxleigh, Grasstree, Dawson and Callide mines have been left wondering what's next for their families and whether these changes mean they will lose their jobs," he said.

Dwayne Muller, an employee from German Creek mine, said communities and employees needed to be protected.

"If people leave our region due to a lack of work, our community will see a reduction in services such as housing, schools and health services," he said.

"Whilst the company haven't announced any redundancies or closures yet, the divestment means employees like me and my family are left up in the air."

Anglo-American said any employees made redundant would receive their full entitlements, although none havr been announced.

Topics:  mining


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Things get UGLY as Kylie raises top total of $10k

PRETTY GOOD BEING UGLY: Kylie Ansford has been named the regional winner of the 2016 UGLY Bartender of the Year.

Kylie Ansford named 2016 UGLY Bartender of Year regional winner

Generations of Olives

OLIVE REUNION: Stewart, Les, Allan, Doug, Col, Kenny and Denis Oliver.

Olive descendants reuinte at Dingo.

Country kitchens successful

Renaye Gadsby (QCWA Country Kitchens Dietitian), Raymonda Hall (facilitator for Blackwater) and Fiona McKenzie (QCWA Country Kitchens program co-ordinator).

Blackwater's Country Kitchens program a success.

Local Partners

Police honour their fallen

Police and community pay their respects at National Police Remembrance Day.

Students stay awake for 24-hour ride of their lives

THINKING PINK: The Pink Limousine team from Emerald Christian College came in 110th in the Human Powered Vehicle Championships.

Emerald Christian College entered the RACQ Technology Challenge.

Things get UGLY as Kylie raises top total of $10k

PRETTY GOOD BEING UGLY: Kylie Ansford has been named the regional winner of the 2016 UGLY Bartender of the Year.

Kylie Ansford named 2016 UGLY Bartender of Year regional winner

Generations of Olives

OLIVE REUNION: Stewart, Les, Allan, Doug, Col, Kenny and Denis Oliver.

Olive descendants reuinte at Dingo.

Country kitchens successful

Renaye Gadsby (QCWA Country Kitchens Dietitian), Raymonda Hall (facilitator for Blackwater) and Fiona McKenzie (QCWA Country Kitchens program co-ordinator).

Blackwater's Country Kitchens program a success.

Oh, the artworks you'll see at Moranbah kids' exhibition

CREATIVE YOUNGSTERS: Students Jessie Ferris and Hannah Peterson with their mini masterpieces to be displayed at the Moranbah Coalface Art Gallery.

Moranbah school students are looking forward to showing their art.

Marist students to share musical talents at SHEP

MUSICAL TALENTS: Adam Phillips, Reef Johnson and Elijah Horsfall from Marist College Emerald.

Marist students represent school at State Honours Ensemble Program.

Space event rocks Comet

News

SPACE event sparked concerns of a plane crash.

Classic car auction draws buyers from US, Dubai

"He wants everyone to enjoy the cars, the collection got too big'

Rob Kardashian admits his first crush was his sister Kim

Rob Kardashian once had a crush on his sister Kim Kardashian West.

Marvel's Luke Cage S1E3: Who's Gonna Take The Weight

Mahershala Ali in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Marvel's Luke Cage S1E2: Code of the Streets review

Simone Missick and Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Kim Kardashian West 'sick of talking about Taylor Swift'

Kim Kardashian West is sick of talking about Taylor Swift.

Justin Bieber ordered to attend Miami deposition

Justin Bieber has been ordered to travel to Miami for a deposition

Sludge metal heaven served up across Australia

Black Rheno bring their stripped back sludge metal through regional Australia.

Black Rheno to hit a town near you

Beach-side real estate starts at $85k on Fraser Coast

HERVEY BAY REAL ESTATE: You can buy this townhouse in Scarness for under $300k.

Live your beach-living dream locally.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

Couple build their own 'tiny house' for $45k

Holly Bowen and Oli Bucher built their "tiny house" themselves, only hiring a plumber and an electrician. Photo/supplied

The house, which is built on a trailer and can be towed.