Glencore has announced that its proposed Blakefield North underground coal project has been placed on hold following ‘continued low prices in the global thermal and coking coal markets’.
“We have to ensure that the volumes and qualities of coal we produce are aligned with market requirements. We will not push incremental tonnes into markets that don’t want them or need them,” stated Glencore.
The project, located near Bulga, was expected to start in 2017.
Despite this, Glencore stated that it remains “confident […] that our Hunter operations will play an increasingly important role in meeting this future demand”.
Glencore also stated that the delay would not affect the Bulga open cut operations, which have been approved to extend its mine life to 2035.
Edited from various sources by Angharad Lock
Read the article online at: https://www.worldcoal.com/coal/16122015/blakefield-north-put-on-hold-3300/