Operations at the Peace River coal mine in Canada will be suspended at the end of 2014, according to the mine’s operator, Anglo American.
The company said it remained committed to the Peace River mine in the long term and will ensure operations can be restarted quickly when market conditions improve.
"Significant reductions in operating costs and reduced mining activity have failed to offset the impact of a weakening metallurgical coal price,” CEO Seamus French said. "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."
Anglo American’s Roman mine, which lies adjacent to the Peace River mine, will see preparation work completed before the operations are placed under care and maintenance.
According to Reuters, in 2013 Peace River produced 1.7 million t of coal – a 22% increase from 2012. The Roman expansion project had been expected to produce between 2 – 4 million tpa of metallurgical coal.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/12092014/anglo-american-to-suspend-canadian-coal-mine-1319/