SUPPLY-- Production Comes, Production Goes...

摘要

As a result of low coal prices, Peabody Energy is temporarily idling its Shoal Creek coking coal mine in Alabama, US, as it waits for a recovery in steel-related demand. About 350 workers will be laid off when the mine, temporarily closes for six months. Peabody acquired the mine from the previous owner the Drummond Company in 2018. The company announced in August it had begun lowering coal production and had reduced its workforce by about 24% over the course of a year and a half. The US miner said it had recently completed a longwall move at the H-3 panel at Shoal Creek. The company said that 2020 costs per ton “have been elevated due to a combination of weak demand, lower productivity rates, and poor geological conditions in the close-out of the H-panel.”