AAP General News (Australia)
12-28-2000
Qld: Qld Govt to seek guarantees from Rio Tinto
The Queensland Government will seek guarantees from Rio Tinto before agreeing to transfer
the lease of the Moura coal mine to the mining giant.
In a deal announced yesterday, United States coal mining group Peabody Resources sold
its Australian assets to Rio Tinto subsidiary Coal and Allied for $1.03 billion.
The deal includes an 80 per cent share in the Moura mine.
Queensland Mines Minister TONY MCGRADY says he's concerned at suggestions the sale
may jeopardise the future of the mine.
He says he wants assurances there won't be any widespread redundancies.
Yesterday's announcement follows a decision earlier this month by BHP to axe more than
200 jobs from two central Queensland underground coal mines.
Mr MCGRADY says he accepts retrenchments are inevitable in some circumstances, but
believes Moura is still a profitable mine.
He says any thoughts of closing the mine are premature.
AAP RTV jhm/evt/hn
KEYWORD: MOURA (BRISBANE)
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