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Queensland coal mines to be sold after BHP offer rejected | ABC News
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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.
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.
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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.
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.
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia
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