The company said it will complete all preparation works for Roman mine prior to taking the mine for care and maintenance.
Anglo American Coal CEO Seamus French said: "Significant reductions in operating costs and reduced mining activity have failed to offset the impact of a weakening metallurgical coal price.
"As a result, we have been forced to take further action in response to the weak market conditions, so that we can preserve the long-term future of the operations."
"We will ensure that the operations can be re-started as quickly, efficiently and safely as possible when the market improves."
Metallurgical coal prices have dropped to around $120 per ton from $300 in 2011, reported The Globe And Mail.
Peace River produced 1.7 million tons of metallurgical coal in 2013 and the Roman expansion was estimated to produce up to four million tons of metallurgical coal each year, reported Reuters.
