Mining giant pays $13.5m for Moranbah property

Company reveals details behind purchase of Grosvenor Downs

Grosvenor Downs. Picture: Elders Real Estate Mackay Rural

MINING giant Anglo American has revealed its purchase of a mega Moranbah property for $13.5 million is within the footprint of its new proposed underground longwall operation.

Anglo purchased the 5273hectare Grosvenor Downs property at an Elders auction last week.

The Moranbah South growth project would be a new underground longwall operation producing high quality coking coal, used in steel production for critical building and infrastructure around the world.

The Moranbah South project received draft environmental approval from the Queensland Government to proceed in mid-2014, followed by Federal Government approval in November that year.

Grosvenor Downs. Picture: Elders Real Estate Mackay Rural

It is a joint 50 per cent venture project between Anglo American and Exxaro.

An Anglo American spokeswoman said the property falls within the footprint of the Moranbah South growth project, which is still in the "early study stage".

"Anglo American will ensure the property continues to be used for agricultural production," she said.

"The project is still in an early study stage, so there are no estimated costs or timeframes in place at this stage."

The property was marketed as being "on the doorstep of Moranbah" and grassed ready to sell,.

It has steel yards, several sheds and accommodation for up to 36 workers and managers on property.

The property was sold without cattle in the deal.

Grosvenor Downs is about 6.5 kilometres south of Moranbah.

Originally published as Mining giant pays $13.5m for Moranbah property