Glencore is to close its Tahmoor coal mine in New South Wales a year earlier than expected, according to local media reports. In June, the company said the mine would close by 2019 due to the continued low prices in global coal markets.
However, according to a company spokesperson, mining activity would now end at the mine in 2018 after the company decided not to develop the mine’s Longwall 32 panel.
“The decision on Longwall 32 has been under review since the mine closure announcement was made,” the spokesperson said. “It is now apparent, based on current economic conditions, that returns from Longwall 32 will not justify the additional investment required.”
As a result, some development work at the mine will stop immediately with all development work ending by early 2017. The company said it would offer voluntary redundancies to 30 employees with further staff reductions taking place as activity at the mine winds down.
Tahmoor has been operating since 1979. Glencore acquired the mine as part of its purchase of Xstrata in 2013 and last year is produced 2.1 million t of metallurgical coal.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/05082016/tahmoor-closure-brought-forward-2016-2167/
You might also like
According to a recent release from Rystad Energy, global coal-fired power generation is on track to peak in 2023, as new sources of renewable and low-carbon energy expand rapidly.