Daily Newsletter

10 November 2023

Daily Newsletter

10 November 2023

Anglo American receives approval to expand Queensland coal mine

The mining lease allows Anglo American to expand the Lake Lindsay mine’s operational life and create 500 jobs at the site.

Archana Rani November 09 2023

Anglo American has secured the mining lease for the expansion of the Lake Lindsay metallurgical coal mine in Central Queensland (QLD), Australia.

The mining lease from the QLD government marks the final hurdle for the coal mine expansion.

It allows Anglo American to expand the mine’s operational life and create 500 jobs at the site.

The existing Lake Lindsay mine is located within Anglo American’s Capcoal Mining Complex in the Bowen Basin, 21km south, south-west of the township of Middlemount.

QLD Resources Minister Scott Stewart said: “The granting of this mining lease shows Queensland’s resources industry continues to go from strength to strength.

“It shows there is confidence from major mining companies that are investing in the future of Queensland’s resources industry into the future."

Stewart adds: “Steel-making coal is one of our state’s biggest export earners, worth nearly A$60bn in the 12 months to May this year.

“We need steel for construction, domestic appliances, automotive and mechanical equipment, and also for turbines to generate renewable energy on wind farms.”

The Lake Lindsay mine extension project involves extending the existing open-cut mine into a new mining area.

Once fully operational, the expanded mine is expected to produce 5.6 million tonnes of steel-making coal.

Last month, Anglo American entered a memorandum of understanding with Mitsubishi Materials to build a responsible copper value chain.

The duo will join forces to create a copper product line to cope with rising demand for metals with “strong provenance credentials”.

Neodymium is one of the fastest-growing product categories within the rare earth metals market

Within the rare earth metals market, cerium is projected to account for the largest volumetric share followed by lanthanum, neodymium, and others in 2023. The demand dynamics for neodymium is estimated to remain strong as the sales of electric vehicles continue to flourish across the globe. The product is deployed in the manufacturing of magnets including low and high performance and is an integral part of the modern-day technology assembly from automotive vehicles to fighter jets.

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