Skip to main content

Anglo American acquires full ownership of Peace River Coal, Canada

World Coal,

Anglo American has announced that it has acquired 100% ownership of Peace River Coal Limited Partnership (PRC), which comprises the Trend metallurgical coal mine and various exploration leases in British Columbia, Canada, through the acquisition of the 25.17% interest in PRC that it did not already own.

Anglo American has completed the acquisition of the 12.18% interest in PRC held by Northern Energy & Mining Inc. for a cash consideration of US$ 76 million and has completed the acquisition of the 12.99% interest held by Hillsborough Resources Ltd. for US$ 81 million plus US$ 9 million to acquire Hillsborough’s royalty rights relating to PRC.

Seamus French, CEO of Anglo American’s metallurgical coal business, said: “PRC is a large and high quality metallurgical coal resource of approximately 1 billion t, on an attributable basis, supported by well-developed power, rail and port infrastructure. We see significant resource upside and plan to invest in further exploration studies to ascertain its full long-term potential. In the near term, we will be progressing a feasibility study to increase production from 1 million tpa to 3.5 million tpa by 2015.”

Read the article online at:

You might also like


South32 announce lead team changes

South32 CEO, Graham Kerr, has announced changes to South32’s lead team as part of the continued simplification of the group’s functional structures.


Embed article link: (copy the HTML code below):