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Peace River Coal Shuts Down In Tumbler Ridge

Thursday, September 11, 2014 @ 2:22 PM

Tumbler Ridge- Tumbler Ridge received another blow today when Peace River Coal announced that they will suspend their operations at the coal mine December 31st for a period of up to 18 months.

According to the company union, upwards of 300 people are employed at the mine.

Company CEO Seamus French says, the company is being mothballed because of low world prices for coal.

This comes following earlier shut downs in the area.

 

Comments

The closures of these coal mines will have a big impact on the Port of Prince Rupert, and to some extent CN Rail in addition to all the job losses.

Seems the Government can give you all sorts of information on the LNG industry, but nothing on what’s happening to the coal industry.

I doubt the long term LNG jobs will replace these jobs.

You have displayed your didsain for the LNG storyfor some time Palpou. I am more bullish on the prospects myself. We have world class gas deposits, at some point the world will want them.

My distain is for the announcements of mega projects in the heat of an election, which is what happened with LNG.

I was around years ago when the Socreds announced they would build a Railway to Alaska. Wenner Gren a European Industrialist said he would open up the Rocky Mountain Trench for exploitation and build a huge Monorail.

I’m still waiting???

If you consider the source driving this LNG business you have to be a little skeptical.

If anything, Government bureaucracy and red tape will kill it. It takes years and years just to get approval for these kind of projects, let alone build them. This is unacceptable.

Gotta keep the paper pushers employed, I guess.

It use to be the big coal mining companies in BC were mostly Canadian owned entities completely separate from American coal companies. In recent years most of the coal mines in Northern BC have been sold to American buyers that have other coal operations in the USA. This allows for them the smoothing out of disruption for their American operations with the Canadian operations used as a sort of capacitor dependent on market conditions. It means more stability for the American operations and more instability for Canadian operations and the communities they operate in.

House prices in Tumbler Ridge will be on the way back down again in the resource cycle.

The rest of the world has beat BC to it when it comes to LNG.

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