August 17, 2020 Read More →

Exports from Colombia’s Cerrejon coal mine down 26% in first half of 2020

Reuters:

Cerrejon, one of Colombia’s biggest coal producers, said on Friday its export figure for the first half of 2020 was its lowest in 18 years due to a slump in coal demand, legal rulings and the COVID-19 crisis.

The mine, located in the poor desert province of La Guajira, is owned equally by BHP Group, Anglo American and Glencore.

Exports were just 9.5 million tonnes in the first half of this year, the company said, 3.8 million less than in same period last year.

Coal prices fell 26% in the first half compared with the first six months of 2019, the statement added. The price fall was reflected in the company’s results, it said. In the first half of 2020 Cerrejon registered a loss of 368 billion pesos ($97.7 million).

The figures come amid a contract dispute between Cerrejon and its largest union, Sintracarbon. The union’s members are currently voting on whether to strike. The result is expected on Monday.

[Julia Symmes Cobb]

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