Anglo American Coal Australia has announced its commitment to maintaining its operations in Queensland after citing an enhanced business performance toward the end of 2016.
Despite Anglo American’s decision to divest its coal assets and exit the Australian market in 2016 – part of its effort to reduce net debt – Anglo American Coal Australia has maintained its commitment to continuing productive operations.
Anglo American Coal Australia noted that by the end of 2016, it delivered its best all round performance in the company’s history.
Country head for Anglo American, David Diamond, attributed the success to the company’s resilience in the commodity market.
“Our demonstrated restraint and resilience, compounded by a global commodities industry turnaround, has paved the way for Anglo American’s resurgence in Australia,” he said.
“As we look to the future Anglo American will build on its strong position as the third largest metallurgical coal producer globally and remain a major mining business and contributor to Queensland and Australia long into the future.”
The company’s commitment includes a plan to re-establish people development programs, focused on improving safety and operational standards, building operational capacity and filling key roles in across the business.
It will also continue to invest long term in current employees through internal moves and promotions and focus on attracting new expertise.
Anglo American Coal Australia has also outlined a $150,000 investment in local community initiatives in Queensland.
This will be used for a range of initiatives including the Moura kindergarten and hospital support funding and assistance with the Moura Miner’s Memorial; sponsorship for the Queensland Minerals and Energy Academy Skills Camp; Middlemount Youth Centre activities and programmes; and sponsorship for the CQ Rescue Service.
Earlier this month Anglo American entered an agreement with Malabar Coal to sell its 88.17 per cent interest in the Drayton thermal coal mine and Drayton South project in New South Wales.