Ready. Set. Go! The race begins for Anglo American Coal Mines
Mining giant Anglo American has placed two of its largest coal mines in Australia up for sale as the business shifts its focus in a bid to lower debt.
The company will look to base its operations on copper, platinum and diamonds as it looks to reduce the number of assets and use the money in any deal to reduce the company's debts.
The Australian reports that fellow Australian mining companies, BHP Biliton and Yancoal, along with the US based Apollo and UK based Glencore PLC are all linked with buying the Grosvenor and Moranbah mines.
In a deal that could be worth up to AUD1.3 billion, Anglo American has stressed that the sale of both mines will only be finalised ‘for the right price’.
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Unmanned train to allow Vale to reopen iron ore plant
Brazilian miner Vale SA will be able to resume operations at its Timbopeba iron ore dry processing plant in up to two months thanks to the use of an unmanned train, the company said in a statement this week.
Vale - Timbopeba iro ore plant
With the train, Timbopeba will be able to operate at least at 80% of its capacity of 33,000 tonnes of iron ore “fines” per day, reports Reuters.
Vale was forced to shut down the plant in the Alegria mine complex recently after labor authorities in Minas Gerais state banned activities close to the Xingu dam due to concerns of a risk of collapse.
Vale said access by workers and vehicles continues to be suspended in the flood zone of the dam due to the ban even though it remains at emergency level 2, which means there no imminent risk of rupture.
But some workers are allowed entry under strict security precautions and they will get the unmanned train going once it has been tested, which would take between one and two months, the company said.
The unmanned train will travel automatically along 16 kilometers (10 miles) of track operated by a system that can control the speed and activate the brakes, Vale said.
Vale announces first ore at Voisey’s Bay mine extension
Vale has reached the milestone of first ore production at the Reid Brook deposit at the Voisey’s Bay mine expansion project in Northern Labrador, Canada - recognised as the safest mine in Canada.