Upswing in Mining Boosting Local Companies
By 250 News
Friday, August 29, 2008 03:58 AM
Prince George, B.C.- The increase in coal mining activity is starting to spill over to good news for some companies in Prince George.
While companies which have traditionally serviced the forestry sector were feeling the pain of the downturn in lumber sales, those that have started expanding their scope to service the mining industry are already seeing some benefits.
Wolftek Industries has hired back a second shift, and is looking for some extra employees. President Bruce Sutherland says although there aren’t any new mines ready to open, it’s the demand for coal that is behind the increased activity “Coal is selling at almost near record levels. Other mines are expanding, but we’ve got the expansions and that type of thing to meet the global demand, its starting to happen. “
Sutherland says more and more the sector he is in is starting to notice an increase in activity. “I think the other thing is lumber is bottoming out, so we aren’t over it, but we’re getting near the bottom level where production is meeting demand.”
Sutherland says while he welcomes the increased activity he is still keeping his fingers crossed “Lets hope it isn’t a bubble.”
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