Cline Mining, which owns an idled underground coal mine in Colorado, announced briefly Nov. 26 that Mark Haywood has submitted to the board of directors a 90-day notice of his intention to resign as President, CEO and director of the company in order to pursue other opportunities.
Cline is a Canadian mining company focused on the maintenance and development of its 100% owned New Elk coking coal mine located in Colorado. With a head office in Toronto and site offices at the mine, Cline is led by a management and operations team with over 100 years of exploration and mining experience.
The New Elk mine, which had been shut for many years, was restarted by Cline Mining, a new owner, a couple of years ago, then quickly shut when the coking coal market plunged in 2012. New management has lately developed a new mine plan for New Elk, based upon equipment available on site and additional equipment needed to significantly lower the operational cash cost of the operation, the company noted in an Oct. 30 financial report.
The main focus of the new mine plan is on the continued development and optimization of the Central Zone of the New Elk mining lease, which provides optimum utilization of the already present infrastructure coupled with the highest short-term production output possible under a continuous mining and longwall development plan.