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BHP, Xstrata, Anglo American See Increased Attacks at Colombian Mine
Aug. 10, 2012 12:02PM PST
Industrial MetalsBloomberg reported that the Cerrejon coal mine, which is located in Colombia and owned by BHP Billiton (NYSE:BHP), Anglo American (LSE:AAL), and Xstrata (LSE:XTA), has already been attacked by guerillas four times this year, compared to just three times all of last year. The attacks are part of a campaign against energy and mining infrastructure in the nation.
Bloomberg reported that the Cerrejon coal mine, which is located in Colombia and owned by BHP Billiton (NYSE:BHP), Anglo American (LSE:AAL), and Xstrata (LSE:XTA), has already been attacked by guerillas four times this year, compared to just three times all of last year. The attacks are part of a campaign against energy and mining infrastructure in the nation.
As quoted in the market news:
The Revolutionary Armed Forces of Colombia, or FARC, on Aug. 8 used explosives to damage a railway that carries coal from Cerrejon to port, after entering the mine to blast equipment last weekend. Assaults haven’t affected production or exports from the mine complex spread over about 30 kilometers (18.6 miles) in northern Colombia, where the government has increased military presence in the past year, according to Junguito. He took over as CEO this year.
Production at the mine will rise to 33.3 million tons this year, about 32 million tons of which will be exported. The remaining 1.3 million tons will be added to inventories.