20th Oct 2005 07:00
Anglo American PLC20 October 2005 News 20 October 2005 $516 million Lake Lindsay metallurgical coal project approved Anglo American announces that approval has been granted to proceed with the$516 million (A$674 million) Lake Lindsay metallurgical coal project in CentralQueensland, Australia. The Lake Lindsay project consists of a new mining area at the German Creekcomplex, owned by Anglo Coal (70%) and Mitsui Coal Holdings (30%), which willincrease annual saleable production at German Creek from 6 to 10 million tonnes("Mt") per annum. The additional annual production will comprise 3.7Mt ofmetallurgical coal and 0.3 Mt of thermal coal. When the Lake Lindsay project and the Dawson project, announced in December lastyear, reach full production, Anglo Coal's annual managed production ofmetallurgical coal will increase from the current level of 18Mt to 27Mt (AngloCoal attributable production will increase from 11 Mt to 16 Mt). The Lake Lindsay project will also extend the mine life at German Creek by some11 years, maintaining production until 2027 and realise marketing,infrastructure and operational synergies from the existing operations. Thecapital expenditure program will include new mining equipment, with significantexpenditure on coal transport infrastructure and coal preparation and handlingfacilities. Construction is due to start later this year with production coming on stream inlate 2006. Tony Trahar, Chief Executive of Anglo American said, "Anglo American's globalcoal business is continuing to expand. This is the second major new projectbeing undertaken by Anglo Coal in Australia following the announcement of theDawson Project late last year. The Lake Lindsay project will enhance AngloCoal's position in the metallurgical coal market by broadening its product rangeand significantly increasing metallurgical coal production." For further information: Anglo American - LondonInvestor Relations Media RelationsCharles Gordon Kate AindowTel: +44 207 968 8933 Tel: +44 207 968 8619 Anglo American - JohannesburgInvestor Relations Media RelationsAnne Dunn Daniel NgwepeTel: +27 11 638 4730 Tel: +27 11 638 2267 Notes to Editors: Anglo American plc is one of the world's largest mining and natural resourcegroups. With its subsidiaries, joint ventures and associates, it is a globalleader in platinum group metals, gold and diamonds, with significant interestsin coal, base and ferrous metals, industrial minerals and paper and packaging.The group is geographically diverse, with operations in Africa, Europe, Southand North America, Australia and Asia. (www.angloamerican.co.uk) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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