logo
Share SHARE
FONT-SIZE Plus   Neg

BMA To Stop Production At Norwich Park Mine Indefinitely - Quick Facts

BHP Billiton Mitsubishi Alliance or BMA, a joint venture between BHP Billiton (BHP, BBL, BLT.L,BHP.AX) and Mitsubishi Corp. (MSBHY.PK, MBC.L), plans to cease production at Norwich Park Mine indefinitely. The company said Norwich Park Mine has been losing money for several months, as a result of a combination of lower production, a significant increase in costs and lower coal prices. This decision to stop production follows a 7-week review of the mine's viability.

BMA Asset President, Stephen Dumble said, "This decision was not made lightly. However, the impact of last year's floods, combined with lower coal prices and high costs, has resulted in an operation that is not currently viable." Dumble continued, "Importantly, this decision on Norwich Park Mine is not reflective of the broader quality of our world class Queensland Coal operations." It is also noted that the mine would not re-start its operations, until viable solutions are found.

Also, BMA would target to maximise redeployment opportunities for Norwich Park employees to Saraji Mine to enable, where possible, those employees and families to remain living in Dysart.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bank of Nova Scotia or otherwise known as Scotiabank, Friday reported lower net profit for the third quarter, in the absence of a year-ago gain. Earnings per share, however, came in line with the Street view. Further, the company said it raised its quarterly dividend by 2 cents. Non-traditional discount and variety stores operator Big Lots Inc. (BIG) Friday reported a decline in net profit for the second quarter, while net sales grew 1.2 percent from the prior year. Comparable sales for the quarter increased 2.8 percent. Google has rejected the European Union's charges that it abused its market power and the demanded that it change the way it ranks online comparison shopping services in its search results, setting up a potentially long legal battle with the EU regulator empowered to levy billions of euros in fines
comments powered by Disqus
RELATED NEWS
Trade BHP now with 
Follow RTT