UPDATE: Drummond resumes Colombian coal exports
Colombian coal miner Drummond has resumed coal exports after an upgrade of its port to meet new environmental standards.
Port upgrade
The company issued a statement saying it would invest approximately US$ 360 million to finish the port upgrade by August 2014. Once completed, the port will have an installed capacity of 60 tpa.
The Colombian government shut Drummond’s port in January after the new environmental legislation took effect, cutting the country’s coal exports by approximately one third.
Force majeure
The government closed the port in January after the new law, which bans the use of cranes and barges to load boats, took effect. As a result of the port closure, Colombia’s coal exports fell by approximately a third, and Drummond had to declare a force majeure.
Colombia’s coal production has suffered after a year of logistics and labour strife, causing production to drop 4% to 85.5 million t in 2013, below its target of 89 million t.
Production forecast
Drummond has cut its production forecast for 2014 to between 25 and 26 million t, down from a previous forecast of 30 million t.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/handling/01042014/drummond_resumes_coal_exports_676/
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