Coal news and updates

Colombia produced about 87 million tons of coal last year, missing a target of 95 million tons, according to a government official who asked not to be identified because the figures aren’t public yet.Mines and Energy Minister Tomas Gonzalez said in September that the country was seeking to produce about 95 million tons of coal in 2014. The ministry referred questions on the 2014 figure to Gonzalez, who is speaking in Colombia today.Coal is the Andean nation’s main export after oil. The price of the commodity has declined more than 50 percent since 2011. The 2014 output figure is above the 85.5 million tons of coal Colombia produced in 2013. Drummond Ltd., Glencore Plc’s Prodeco and Cerrejon -- a venture of BHP Billiton Plc, Anglo American Plc and Glencore -- are the nation’s top producers.

In an effort to stop coal from falling into the sea and causing environmental damage, Colombia banned loading with barges and cranes last January. That created problems for Drummond, which didn’t have direct loading facilities in place. Coal industry mechanics also went on strike in July.

 

 

 

Source: http://www.bloomberg.com/