Coal Age

MAR 2019

Coal Age Magazine - For more than 100 years, Coal Age has been the magazine that readers can trust for guidance and insight on this important industry.

Issue link: https://coal.epubxp.com/i/1101769

Contents of this Issue

Navigation

Page 9 of 51

8 www.coalage.com March 2019 worldwide news Whitehaven Deep Coal Mine Plan Moves Step Closer The first new deep coal mine in the U.K. for decades has moved a step closer after councilors unanimously backed the plans. The West Cumbria Mining Co. wants to mine next to the site of the former colliery in White- haven that shut down three decades ago. The Woodhouse Colliery could create 500 jobs. West Cumbria Mining wants to extract coking coal from the seabed off St. Bees, with a processing plant on the former Marchon site at Kells. The last deep mine in the UK, Kelling- ley Colliery in North Yorkshire, shut down in 2016. A meeting of Cumbria County Council's planning committee heard from several climate change experts and environmental activists who urged members to reject the proposals. But other speakers including, the Mayor of Copeland Mike Starkie and Councilor Chris Whiteside, spoke of the "desperate" need for jobs, partic- ularly in deprived wards close to the proposed new mine. Mark Kirkbride, chief executive of West Cumbria Mining, told the Local Democracy Reporting Service, that the mine would be a "good neighbor" and was committed to creating jobs. He said that the demand for steel, for which the coking coal is needed, was expected to grow "significantly" over the next 50 years. The mining firm believes there could be up to 750 million metric tons of coal available in a 75 sq mile area around the colliery. South Korea Coal Imports Set Another Record in 2018 South Korea's coal imports hit a new high last year despite government efforts to phase out the use of fine dust-emitting energy sources. The country imported 131.52 million tons of coal last year, breaking the record for the second consecutive year, as report- ed by Yonhap. Coal imports in 2017 to- taled 131.46 million tons. The figure for 2018 marks an 11% increase from 2016. The monetary value of the im- ports totaled US$14.65 billion last year, a gain of 8.7% from the year be- fore. It is the highest amount since 2012. The volume increased more than the monetary value as prices rose from major producing countries, such as Australia and Indonesia, cut- ting back on their supply. The import price averaged US$ 111.41 per ton last year, up 8.7% from US$ 102.54 the previous year. It is a 60% leap from $68.95 in 2016. One of the key countermeasures to fine dust is temporarily shut- ting down or limiting operation of coal-powered plants. A further in- crease is expected once coal-generat- ed power plants under construction are completed by 2022. Peabody Proceeds With JV at Wambo Peabody Energy is pursuing life exten- sion projects to maintain its Australia export thermal coal volumes at both its Wambo and Wilpinjong mines. The company continues to advance an unincorporated joint venture with Glencore to extend the life the Wambo open-cut mine, which is expected to commence production in early 2020. The Wilpinjong extension project, which extends the life of the Wilpin- jong mine to 2030, is progressing. Peabody expects to invest approx- imately $100 million over each of the next two years related to both the Wambo joint venture and the Wilp- injong extension project. In total, the company is targeting sales between 11.5 million and 12.5 million tons of export thermal coal in 2019. Peabody's Millennium mine in Australia will close as planned in 2019. It said it is will target higher met- allurgical coal volumes beginning in 2020 with mining activities at North Goonyella returning to normal early next year. At North Goonyella, Pea- body has identified a base case that targets limited continuous-miner volumes in 2019 with longwall pro- duction beginning to ramp up in ear- ly 2020. The base case contemplates Woodhouse Colliery will be on the former Marchon Industrial site. (Photo: West Cumbria Mining)

Articles in this issue

Links on this page

Archives of this issue

view archives of Coal Age - MAR 2019