Grande Cache Coal cuts full-year sales forecast 14%

Industrial Metals

Canada’s Grande Cache Coal Corp (TSE:GCE) cut full-year sales volume forecast by about 14 percent, due to production delays at one of its mines and congestion issues at Westshore terminals, the country’s largest coal export facility on the Pacific Coast.

Canada’s Grande Cache Coal Corp (TSX:GCE) cut full-year sales volume forecast by about 14 percent, due to production delays at one of its mines and congestion issues at Westshore terminals, the country’s largest coal export facility on the Pacific Coast.

Grande Cache shares fell as much as 11 percent Wednesday morning, as the company became the second major Canadian coal miner after Teck Resources Ltd (NYSE:TCK) to trim its sales volume view for the year, despite a booming demand for metallurgical coal from Asian steel mills.

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