Anglo American announces that it has acquired 100% ownership of Peace River Coal Limited Partnership, which comprises the Trend metallurgical coal mine and various exploration leases in British Columbia, Canada, through the acquisition of the 25.17% interest in PRC that it did not already own.

Anglo American has completed the acquisition of the 12.18% interest in PRC held by Northern Energy & Mining Inc. for a cash consideration of US$76 million and has completed the acquisition of the 12.99% interest held by Hillsborough Resources Ltd. for $81 million plus $9 million to acquire Hillsborough’s royalty rights relating to PRC.

Seamus French, CEO of Anglo American’s Metallurgical Coal business, said: “Peace River Coal is a large and high quality coking coal resource of approximately 1 billion tonnes, on an attributable basis, supported by well developed power, rail and port infrastructure. We see significant resource upside and plan to invest in further exploration studies to ascertain its full long term potential. In the near term, we will be progressing a feasibility study to increase production from 1 Mtpa to 3.5 Mtpa by 2015.”

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