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Glencore Suspends Hunter Valley Coal Mines Operations

Coal News - Published on Mon, 10 Aug 2020

Image Source: Coronavirus COVID19 Glencore Hunter Valley Coal Mine
Glencore will suspend several coal mines across the Hunter Valley in New South Wales for at least two weeks as the coronavirus pandemic and Chinese government policies to avoid Australian coal cargoes hit demand for the commodity. Glencore on Friday said that site and equipment shutdowns, which would coincide with September school holidays, are necessary in order to wind back output volumes and manage the severe impact on demand. Workers would be required to take annual leave over this time. Our focus is on taking the necessary steps to continue operations, manage the current market volatility and limit the impact on our workforce. These measures will enable us to align our production levels with market demand, while providing the flexibility to ramp back up as economies recover."

Export prices for thermal coal have been sliding as the coronavirus-driven industrial downturn weighs on global energy demand. But the situation for exporters to China including Glencore has been made tougher this year following an escalation of Chinese import restrictions.

Glencore is the biggest thermal coal producer in the NSW Hunter Valley. During the previous downturn in the coal market in 2015 Glencore cut coal production by 15 per cent.

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Posted By : Yogender Pancholi on Mon, 10 Aug 2020
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