Anglo to grow Peace River

ANGLO American no longer seeks to sell its majority stake in the Canada-based Peace River Coal company, saying it plans to further invest in PRC’s Trend open cut mine in British Columbia.
Anglo to grow Peace River Anglo to grow Peace River Anglo to grow Peace River Anglo to grow Peace River Anglo to grow Peace River

Image courtesy of Peace River Coal.

Blair Price

Anglo and PRC joint venture partners Northern Energy & Mining and Hillsborough Resources previously planned to embark upon a joint process to sell 100% of PRC.

“Anglo American has now decided to end that sale process,” An Anglo spokesperson told ILN.

“In line with our strategy to grow our metallurgical coal business both within and beyond Australia, we have decided to retain, invest in and grow our Peace River Coal asset in British Columbia.”

PRC produced 868,000 tonnes of metallurgical coal in 2010.

Anglo owns a 74.83% stake in PRC, NEMI owns 12.18% and Hillsborough owns 12.99%.

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