Anglo American will sell all of its Australian coal mines after rejecting a takeover bid from rival BHP.
It owns five steel-making coal mines in Queensland's Bowen Basin - Moranbah North, Capcoal, Dawson, Aquila and Grosvenor.
Anglo American chief executive Duncan Wanblad said the changes would come in "urgently" and the sale of its Australian assets would be used to "reset" the company's balance sheet.
The announcement is "unnerving" for small communities like the rural town of Middlemount which are "fundamentally wrapped up" with the mines, Isaac Mayor Kelly Vea Vea said.
Subscribe: ab.co/1svxLVE
Read more here: www.abc.net.au...
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2
Like ABC News on Facebook: / abcnews.au
Follow ABC News on Instagram: / abcnews_au
Follow ABC News on X (Twitter): / abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia
14 май 2024
