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Article: SA Coal Mining shutdown heralds tough times.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- April 6, 2009
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BYLINE: Justin Brown
The decision by South African Coal Mining Holdings to halt production could be the start of a pattern of junior mining companies cutting coal output because of a lack of finance, Xavier Prevost, a Wood Mackenzie analyst, said last week.
The most vulnerable would be coal mining companies that were developing projects or building mines.
SA Coal Mining Holdings closed all its mines last week, with the loss of contract and permanent jobs.
It said: "Significantly reduced coal prices and difficult conditions have resulted in the board of SA Coal Mining Holdings resolving to cease operations with immediate effect for ...