“Significant reductions in operating costs and reduced mining activity have failed to offset the impact of a weakening metallurgical coal price,” Anglo American Coal’s CEO, Seamus French said in a written statement. “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.”
In the same statement, Anglo American cites their commitment to the Peace River and says the corporation will complete the development of its new Roman mine before Peace River Coal is shut down.
“Angelo American sees significant long-term growth potential in the northeast of British Columbia and Peace River remains an attractive asset within our coal portfolio,” French concluded.
Further information will be provided as the story develops.