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: Quote, 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
The Germanwings plane crash has spurred European airlines to implement stringent cockpit rules widely followed in the U.S., after it emerged a lone co-pilot forced the plane into its fatal descent, reports said on Thursday. Video-game retailer GameStop Corp. said Thursday after the markets closed that its fourth quarter profit rose 11% from last year, as better cost control helped offset a 5.6% decrease in sales. However, the company's quarterly earnings per share, excluding item, came in below analysts' expectations as did its quarterly sales. The Villages, a serene retirement hometown in Florida has been designated as the fastest-growing metro in the U.S. for the second consecutive year, as per Census estimates released on Thursday.
comments powered by Disqus
RELATED NEWS
Trade BHP now with 
Follow RTT