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Anglo open to joint coal ventures

Michael Vaughan

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Anglo American is open to unlocking value in its Australian coal business through joint ventures with miners like BHP Billiton, though it warns that at least two of its mines could close after the introduction of the carbon pollution reduction system. Anglo Coal Australia chief executive Seamus French told The Australian Financial Review the location of the company's Queensland mines meant there were "very natural partners" for joint ventures. "It would make sense in some places to co-develop deposits in some cases [and] BHP is a good example," Mr French said. "So where we have those synergies and where there's a mutual benefit for both parties we'll certainly speak to them." Anglo Coal global chief executive Ian Cockerill said transactions that could strengthen regional production hubs - such as asset swaps and joint ventures - were an "extremely important" way of creating value without compromising independence. "Those smaller types of M&
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    Original URL: https://www.afr.com/policy/economy/anglo-open-to-joint-coal-ventures-20090929-jn612