Name of the Project
Aquila hard coking coal project.

Location
Queensland, Australia.

Project Owner/s
The project is a joint venture (JV) between Anglo American and Mitsui & Co.

The Capcoal complex includes the Capcoal opencut and Grasstree underground operations, both managed by Anglo American. The underground operations are owned by Anglo American (70%) and Mitsui & Co (30%).

Project Description
The Capcoal opencut operations had a reserve life of 20 years, as at December 31, 2018.

The Grasstree mine is coming towards the end of its economic life.

The Aquila project will extend the life of the Capcoal underground (Grasstree mine) hard coking coal operations by six years to 2028.

The project has average saleable production of 3.5-million tonnes (attributable) of premium-quality hard coking coal. The project will benefit from the existing infrastructure and systems from the Grasstree mine.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax internal rate of return of more than 30%.

Capital Expenditure
The project has an expected attributable capital cost of $226-million.

Planned Start/End Date
Development is expected to start in September 2019, with first longwall production of premium quality hard coking coal expected in early 2022.

Latest Developments
Anglo American has approved the Aquila project.

The project is also subject to approval by Anglo American JV partner, Mitsui & Co.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Anglo American media, James Wyatt-Tilby, tel +44 20 7968 8759 or email james.wyatt@angloamerican.com.
Anglo American investors, Paul Galloway, tel +44 20 7968 8718 or email paul.galloway@angloamerican.com.