Fire at Anglo American's Grosvenor coal mine expected to impact met coal sale

From Investing.com: 2024-07-01 02:26:17

A fire at Anglo American’s Grosvenor coal mine in Australia may harm its met coal business, affecting a potential sale. The mine is expected to be closed for months. Anglo rejected a bid from BHP in May, opting to sell assets. The fire is the second incident at the mine, impacting production.

Anglo American’s steelmaking coal business plans to produce 8 million tonnes in the first half of 2024, with Grosvenor contributing 2.3 million tonnes. Jefferies assumes the mine will be offline until mid-2025, impacting the market. Shares closed at 2502 pence on Friday. Anglo still intends to divest its coal business despite the fire.



Read more at Investing.com: Jefferies says Anglo American coal fire likely to affect met coal sale By Reuters