Did BHP Billiton & friends blow US$1.3 billion on a Colombian coal project?
“Late last year BHP Billiton – along with Glencore and Anglo American Plc, its two joint-venture partners in the Cerrejón coal mine in Colombia – completed a US$1.3 billion expansion project to supply an extra 8 million tonnes of thermal coal a year to the global market. The Cerrejón mine expansion may have been commissioned but – since the project was given the go-ahead in August 2011 – the seaborne thermal coal market has tanked and the profitability of the existing mining project has taken a big hit … Have three of the world’s biggest coal exporters just blown US$1.3 billion on a stranded coal asset?,” asks Bob Burton in RenewEconomy.
Suggested Tweet: Did #BHPBilliton & friends blow US$1.3 billion on a #coal project in#Colombia? bit.ly/1I0ywgx @BobBurtonoz @renew_economy
Ridley’s Canadian Coal Exports: A Terminal Illness?
“The Ridley coal export terminal in Northern BC [British Columbia], which has been suffering through a dismal year of collapsing exports in the face of weak international prices, recently published its 2014 annual report on its website … There’s no sunny optimism, just a litany of woes. You can’t read it without thinking that the authors are as depressed as the coal markets that are dragging down their business,” writes Clark Williams-Derry from the Sightline Institute.
Suggested Tweet: Ridley’s Canadian #coal exports: a terminal illness? http://bit.ly/1GnfxzU @ClarkWDerry @Sightline #Canada
Coal in Poland Lowering Life Spans
“The children Karolina Zolna knows huff and puff after a few minutes of exercise. Two years ago, her infant daughter spent four months in the hospital with pneumonia. The doctors did not identify a cause, but to Ms Zolna, the reason for the baby’s illness was obvious. She blames the pollution that hangs heavy in the air of her gray hometown in Poland’s coal heartland, Silesia,”writes Beth Gardiner in the New York Times.
Suggested Tweet: #Coal in #Poland lowering life spans http://nyti.ms/1GsNl0q @Gardiner_Beth #pollution #health