International miner Anglo American plc announced Sept. 11 that it will place its Peace River Coal operations in British Columbia, Canada, into a period of “care and maintenance,” to commence at the end of 2014.
Anglo American said it remains committed to Peace River over the long-term and the development of its new Roman coal mine, and will complete all preparation works for Roman prior to the care and maintenance period.
Seamus French, Anglo American Coal CEO, said: “Significant reductions in operating costs and reduced mining activity have failed to offset the impact of a weakening metallurgical coal price. As a result, we have been forced to take further action in response to the weak market conditions, so that we can preserve the long-term future of the operations.
“We will ensure that the operations can be re-started as quickly, efficiently and safely as possible when the market improves. Our immediate priorities are to provide the support to our employees that they need at this difficult time and to stay focused on a safe transition to care and maintenance by year end.”
In 2011, Anglo American acquired the remaining minority interests in Peace River Coal, whi h is an open cut operation that produced 1.4 million tonnes of metallurgical coal in 2012. The Trend mine has lately been the operating propercty.
Anglo American is one of the world’s largest mining companies, is headquartered in the United Kingdom and listed on the London and Johannesburg stock exchanges.
