Multi-Billion Dollar Coal Deal Signals Confidence In Mackay Region

The sale of Anglo American’s Queensland metallurgical coal portfolio in a deal worth up to $5.4 billion has been welcomed by the Queensland Government as a major vote of confidence in the state’s mining sector and the Bowen Basin economy.

UK-based mining company Dhilmar Limited will acquire stakes in Anglo American’s Grosvenor, Moranbah North, Capcoal, Aquila and Dawson coal mines — key operations connected to the Mackay region’s mining workforce and supply chain network.

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The deal follows several major investments across Queensland’s resources sector, including Yancoal Australia’s investment in Kestrel Coal Mine and Argo Queensland’s deal involving Broadlea, Carborough Downs and Ironbark mines.

Queensland Minister for Natural Resources and Mines Dale Last said the sale reflected strong international confidence in Queensland coal assets.

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“The Crisafulli Government is restoring investor confidence through a stable and predictable operating environment - exactly as we promised - and the sheer interest from global investors in these assets is reflective of that,” Mr Last said.

“I have said time and time again – there is strong global interest in Queensland’s world-class metallurgical and thermal coal assets, and the sale of Anglo’s coal portfolio brings welcomed investment in our resource rich State.”

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Mr Last said the Bowen Basin remained one of the world’s leading coal regions, supported by a skilled workforce and strong industry demand.

“Queensland’s Bowen Basin is home to some of the world’s best coal backed by a highly skilled workforce, leading environmental approvals and a government that delivers on its word.”

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The sale remains subject to approval from the Foreign Investment Review Board.

The Government said projects backed since coming to office are expected to support more than 5,000 mining jobs across Queensland.

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