CONSOL slows development of US met mine

摘要

United States miner CONSOL Energy said that it is delaying the development of its Itmann low-vol metallurgical (met) coal mine given the current state of the met markets. The project, announced in May 2019, was originally slated to begin production sometime in 2021. CONSOL said that is still possible if the markets recover, but the pace of development has been slowed. Interim Chief Financial Officer Mitesh Thakkar said CONSOL made the decision to defer capital spending on the mine in West Virginia, allowing the company to redirect some of the funds to debt reduction. It was also a coal marketing decision.