Glencore to Close Australia’s West Wallsend Early
A shearer cuts coal at Glencore’s West Wallsend complex.
Glencore has pushed its plans several
months forward and has decided to shutter
its West Wallsend coal complex in Australia
in 2016, pointing to low prices. The company
said the mine in New South Wales,
which it co-owns with Japanese-based
Marubeni Corp. and JFE Minerals, had initially
been slated to idle in late 2016 or
early 2017. Consideration had been given
to a number of options to extend the mine's
life but a combination of factors, especially
coal market and economic conditions,
do not support continued operations, officials
said. Part of the decision was also
reportedly tied to its decision not to mine a
longwall block near a large conservation
area. West Wallsend, with a workforce of
about 300, produced 2.6 million metric
tons of coal in 2014, mostly thermal. The
total was about half of its previous average.
As featured in Womp 2015 Vol 05 - www.womp-int.com