Coronado shuts US coal mines
US-Australian mining firm Coronado Coal is shutting its US mining operations and will ship from stocks in response to the coronavirus-induced economic downturn, although it will maintain operations at its Curragh coking coal mine in Australia.
The firm has withdrawn its production guidance of 19.7mn-20.2mn t for this year because of the uncertainty around when the US mines will restart. It will continue shipping from around 750,000t of inventories in the US, which will more than cover its contractual requirements. The firm owns the Buchanan, Logan and Greenbrier coal mines in the US states of Virginia and West Virginia.
The closure of the mines is likely to push up average costs per tonne across Coronado's operations.
Coronado will continue operating its Curragh coking coal mine in Queensland's Bowen basin to meet the needs of key customers in Asia and India, as well as to supply thermal coal to the 1,460MW Stanwell power station operated by the Queensland government.
The ramp-up of Curragh to 15mn t/yr has delayed, with no extra volume expected this year compared with the 600,000t of additional production that it highlighted in August. The firm expects Curragh output to stay at around 12.8mn t/yr in 2020 before rising to 14.8mn t/yr in 2021, 14.9mn t/yr in 2022 and 15mn t/yr in 2023.
By Jo Clarke
source: Argus Media
Related News
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
