Should keep bouncing much higher. It's a windfall from Anglo...

Should keep bouncing much higher. It's a windfall from Anglo American.

Anglo coal mine in Qld faces closure after fireGLEN NORRIS and NICK EVANS39 minutes agoThe Australian Business Network3 CommentsAnglo American’s coal operations in Queensland are under pressure.A major fire at Anglo American’s troubled Grosvenor Coal Mine in Queensland is expected to impact global supply, and an industry expert warns the operation could face permanent closure.Anglo is still struggling to get the fire at the Grosvenor mine at Moranbah, about 1000km northwest of Brisbane, under control after the mine was evacuated on Saturday after a “gas ignition incident”.The fire has thrown into disarray a rescue plan for the company by Anglo American chief executive Duncan Wanblad, only months after the Anglo board backed its boss against a BHP takeover offer. The sale or spin-out of Anglo’s Queensland coal assets was a central feature of Mr Wanblad’s rescue plan for the company.Opened in 2016, Grosvenor has had a poor safety record. Incidents have included three roof collapses in 2016, an underground fire, electric shocks and numerous warnings from officials over methane containment.Anglo’s five Queensland coking coal operations were expected to fetch about $US3bn ($4.5bn) in the current market, according to analyst estimates, but the latest disaster at Grosvenor is expected to put the mine out of commission for months.