Anglo shares rise amid renewed takeover speculation
BHP is now free to relaunch a bid to acquire Anglo, as the six-month standstill mandated by London’s takeover rules has expired.
PM @TonyAbbottMHR on-site at BMA’s new Caval Ridge coal mine near Moranbah. @abcnews pic.twitter.com/YUyviYYrcn
— Jonathan Hair (@jonathanhair1) October 13, 2014
Caval Ridge Mine, a joint project of BHP Billiton and Mitsubishi, was opened today by BHP Billiton Coal President, Dean Dalla Valle, and Australian PM Tony Abbott.
The US$3.4 billion project is expected to produce up to 5.5 million tonnes metallurgical coal per year and create 500 jobs in Queensland.
The mine was popular with job applicants. Valle said over 30,000 people applied for around 950 roles at Caval Ridge and its sister mine Daunia.
“Caval Ridge Mine’s workforce, who commute from Cairns and Brisbane, include 21 per cent females, three per cent Indigenous and 43 per cent new-to-industry employees. We have invested considerably in recruiting and training new entrants to the coal industry who will work alongside some of our experienced operators,” said Valle.
BHP Billiton (NYSE:BHP) touted that the mine will move material more efficiently.
“Energy efficiency is a key focus for the mine and was built into its design and management system. This includes the use of highly efficient equipment and the optimisation of truck, shovel and dragline movements. This improves the efficiency of our energy use and helps minimise our greenhouse gas emissions,” said BHP Billiton Coal President, Dean Dalla Valle, in a news release.
Caval Ridge Mine is a an open pit coal mine in Queensland, Australia,
38 km SW of Coppabella.
PM @TonyAbbottMHR inspecting a 35-million dollar coal power shovel at the Caval Ridge mine opening. @ABCTropical pic.twitter.com/UjrugAJx0j
— Jonathan Hair (@jonathanhair1) October 13, 2014
Prime Minister Tony Abbott has officially opened BMA’s Caval Ridge Mine. Details at 6PM @7LocalNewsMKY pic.twitter.com/oP9WjMuKSj
— Rebecca Davis (@becdavis) October 13, 2014
4 Comments
Gary
It is not a good image being in a pit so close to equipment and not wearing correct ppe this has set a great image for new starters in mining,
Brien
There had best be no 457’s hired.
Dylan E McFarlane
This is silly, misleading and poor reporting. As if an average of 30 applicants per job was unusual!
MickF
The reason why our industies in Australia are going to the dogs is because we have got 5 safety people telling one worker why he cant do a job. Safety people are generally tradesman that wern’t any good at their job. The shovel is shut down so very minimal chance of head impact and no chance of ear damage. I have been in the mining industry for 30 years as a tradesman, supervisor and now manager, I still shake my head everyday when I read comments below. If you want jobs for your kids I suggest we start taking a more realistic approach to safety and getting the job done or else or cost base will increase to the point where we are very uncompetitive on the worl market.