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Mining Weekly reported that Glencore (LSE:GLEN) has shelved development of its Blakefield North underground coal mine in Australia due to weak coal prices.
Mining Weekly reported that Glencore (LSE:GLEN) has shelved development of its Blakefield North underground coal mine in Australia due to weak coal prices.
As quoted in the publication:
The project, which forms part of the larger Bulga coal complex, had been due to start longwall production in 2017, and would have extended the life of the existing underground operations at the Bulga complex.
However, a spokesperson for Glencore told Mining Weekly Online on Wednesday that a decision has now been taken to place the underground project on hold, owing to continued low thermal and coking coal prices.