Isaac council ready to hold new owners to account

Isaac Regional Council is making clear its expectations of Peabody Energy as the major coal producer prepares to take control of a raft of local Anglo American operations. The Peabody acquisition includes the Moranbah North, Grosvenor, Aquila, and Capcoal operations in the Bowen Basin, while BUMA will take operational control of the Dawson mine. Related: BUMA beefs up Bowen Basin presence with Dawson deal “While workers will change shirts, expectation is that Peabody will not leave Moranbah and Middlemount worse off with their ownership,” Isaac Mayor Kelly Vea Vea (pictured above) said. Cr Vea Vea said Peabody Energy president and chief executive officer Jim Grech’s comments about long-term value and social licence upon announcing the acquisition of the Anglo assets were a positive sign for local communities. "Over the last 24 years, Anglo American have built a portfolio of social commitments consisting of historical arrangements like water and housing supply to more recent support of childcare and medical services," she said. “It’s my council’s expectation that Peabody steps up to the plate when it comes to upholding standards set in community by Anglo American." Cr Vea Vea said letters would go out today requesting a meeting with Mr Gresch and the Peabody Energy team to occur as soon as possible. “We want to make sure that Peabody understands the community’s expectations and the importance of upholding the heart-and-soul investment in the communities that support them,” Mayor Vea Vea said. The assets Peabody is acquiring in a $5 billion-plus deal with Anglo include: Moranbah North Mine - An underground longwall operation that produces premium low-volatile hard coking coal and is expected to produce an average of 6.2 million tons per year of saleable coal over the next 31 years. Reserves total 147 million tons with 387 million tons of coal resources. Moranbah North's coal products are exported to steel customers across Asia through the Dalrymple Bay Terminal near Mackay. Grosvenor Mine - This underground longwall operation is currently out of action after an ignition event in June 2024. The mine produces premium low-volatile hard coking coal and, when production resumes, is expected to produce an average of 3 to 4 million tons per year of saleable coal over the next 20 years. Reserves total 61 million tons with 470 million tons of coal resources. Grosvenor's coal products are transported via an on-site rail loading facility that is shared with Moranbah North and exported to steelmaking customers via the Dalrymple Bay Coal Terminal. Aquila Mine - This underground longwall operation produces premium low-volatile hard coking coal and is expected to produce an average of 3.3 million tons per year of saleable coal over the next eight years. Reserves total 21 million tons with 63 million tons of coal resources. Aquila's coal products are exported to steel customers across Asia through the Dalrymple Bay Terminal and RG Tanna Coal Terminal. Capcoal Open-Cut Mine - A long-life surface operation producing premium low-volatile hard coking coal, pulverized coal injection (PCI) and thermal coal. Peabody expects it to produce an average of 4.0 to 4.5 million tons per year of saleable coal over 24 years. Reserves total 77 million tons with 337 million tons of coal resources. Capcoal's coal products are exported to customers via the Dalrymple Bay and RG Tanna Coal Terminal. You may also like: https://industryqld.com.au/anglos-met-coal-portfolio-buyers-revealed/

Isaac council ready to hold new owners to account

Industry Queensland

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