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09 Feb 2022 | 07:57

Anglo American starts up new coal mine in Queensland

(Sharecast News) - Mining company Anglo American said on Wednesday that its new Aquila mine in Australia had achieved its first longwall shear of steelmaking metallurgical coal on schedule and on budget, marking the project's final stages of construction and commissioning. Anglo American stated that the Aquila mine, located near Middlemount in central Queensland, extended the life of its existing Capcoal underground operations by seven years after the company's nearby Grasstree mine recently reached the end of its life.

The FTSE 100-listed firm highlighted that Aquila had been developed as "one of Australia's most technologically advanced underground mines", leveraging the company's advancements in underground automation technology, remote operations and data analytics.

Tyler Mitchelson, chief executive of Anglo American's metallurgical Coal business, said: "Safely starting up longwall mining at Aquila Mine on our original schedule, despite the effects of the pandemic, is an important milestone for our metallurgical coal business and will support our ongoing contribution to both the Middlemount community, and Queensland's economy."

Separately, Anglo American revealed it had purchased 168,444 of its ordinary shares from Goldman Sachs International at a volume-weighted average price per share of £34.82 as part of its buyback programme announced on 29 July 2021.

As of 0805 GMT, Anglo American shares were down 0.87% at 3,459.0p.
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