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Anglo American approves Aquila hard coking Coal Project in Australia

Anglo American plc announces the approval by its Board of the Aquila project to extend the life of the Capcoal underground (Grasstree mine) hard coking coal operations in Queensland, Australia by six years, to 2028. With an expected attributable capital cost of US$226 million, development work is expected to begin in September 2019, with first longwall production of premium quality hard coking coal in early 2022.

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Akastor and Mitsui create Joint Venture

Akastor ASA (OSE: AKA), an oil service investment company, announced that it has signed a Heads of Agreement with MITSUI & CO., LTD, a leading Japanese trading and investment company, and its Japanese partner, to create a joint venture with 50/50 ownership between AKOFS Offshore AS and Mitsui. The joint venture will acquire both the Skandi Santos hull from DOF Subsea Rederi AS and the Skandi Santos topside from AKOFS. The joint venture will subsequently enter into a lease agreement with AKOFS corresponding to the remaining contract duration between AKOFS and Petrobras.

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Conclusion of Contracts for Civil and Track Works for a Dedicated Freight Rail Line in India

A consortium consisting of Mitsui & Co., Ltd., Ircon International Limited, a company under the Ministry of Railways, Government of India, and Tata Projects Limited, an infrastructure development company in the Tata Group, has been awarded orders totaling approximately ¥76 billion by the Dedicated Freight Corridor Corporation of India Ltd., a corporation under the Indian Ministry of Railways. The orders are for civil and track works from Vaitarana, Maharashtra to Sachin, Gujarat (186 kilometers), and from Sachin to Vadodara, Gujarat (134 kilometers), as part of a plan to build a dedicated freight line through India's largest industrial area between Delhi and Mumbai. The total length of the two sections is 320 kilometers.

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Mitsui: Kestrel New Mining Area Start Production

Mitsui & Co., Ltd (President and CEO: Masami Iijima) announced that the production from the new mining area owned by Kestrel Joint Venture (Kestrel J/V: Rio Tinto 80%, Mitsui 20%) in Queensland, Australia has commenced.

The Kestrel Mine commenced operation in 1992 and at present it produces approximately 4 million tons per annum (Mtpa) of high quality coking coal.

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