Reuters reported that the Colombian government expects Drummond Company Inc. to start exporting coal once again around March 24. Exports were halted earlier this year on environmental grounds.
Articles Tagged "colombia"
Reuters reported that in 2013, Colombia put out 85.5 million tonnes of coal, a 4-percent decrease from 2012 and below the country's production target. The decline was mainly due to strikes at the two top miners in the nation.
Bloomberg reported that some market watchers believe operating in Colombia may be about to get more complicated. The rumors follow President Juan Manuel Santos' decision to suspend coal exports from Drummond Company Inc. after the company continued to load coal onto open barges after the practise was banned.
Recent comments from the Uranium Investing News audience prompted us to look a little further into the companies that they are watching.
Drummond Company Inc. announced that as a result of the Colombian government's decision not to allow it to export coal from any of its operations in the country, it has been forced to declare force majeure.
Reuters reported that coal miner Drummond Company Inc., which earlier this month was ordered to suspend coal loading by a Colombian environmental authority, is not showing much interest in proposals that would allow it to continue exporting coal.
Reuters reported that on Friday, privately owned Drummond Company Inc. was ordered to suspend coal loading by Corpamag, a regional environmental authority in Colombia.
There are two types of metallurgical coal, thermal and metallurgical. Here's a look at what they are used for, where they are mined and which companies are mining them.
Colombia, once the domain of guerillas and drug traffickers, has opened up to investment and is now poised to add reserves through an aggressive exploration program, having recently surpassed 1 million barrels a day.
Bloomberg reported that as coal exports from Australia to Colombia increase, a rally that has lifted prices for the fuel will come to an end. As a result, the coal surplus will increase by 20 percent, to 6 million metric tons, in 2014, according to Credit Suisse Group AG (NYSE:CS).