Drummond May be Forced to Curb Colombian Coal Exports

Reuters reported that the Colombian government is looking for ways to allow miners to keep exporting coal even if they have not switched over to automated loading by January 1, 2014. The deadline is problematic in part because it could result in Drummond Company Inc. stopping one-third of the country’s exports when 2014 begins.

As quoted in the market news:

Coal trade participants say U.S.-based Drummond will not have completed construction of its new loading system until several weeks or even a few months after the deadline due to delays caused by a seven-week miners’ strike from late July.

A Drummond spokeswoman said the company had no comment to offer on the status of new loading facilities it is building.

‘What is for sure is that there are companies that won’t manage to be up and running by this date and they will have difficulties that the government, as I understand, is looking at to see in what way this can be resolved,’ Javier Garcia, the [mining] ministry’s Director for Corporate Mining told Reuters.

Click here to read the full Reuters report.