Glencore says suspends mining at Australia's Ravensworth coal mine

Thu, 27 Mar - 11:00am

SYDNEY, March 27 (Reuters) - Mining at Australia's Ravensworth underground coal mine has been suspended due to tough market conditions across the Australian coal sector, owner Glencore Xstrata > said on Thursday.

A Glencore spokesman said continued operations were no longer financially viable due to a combination of lower prices, high production costs, a strong Australian dollar and geological constraints in future mining areas.

(Reporting by James Regan; Editing by Paul Tait)

((jim.regan@thomsonreuters.com)(+612 9373-1814)(Reuters Messaging: jim.regan.reuters.com@reuters.net))

Keywords: AUSTRALIA COAL/GLENCORE XSTRATA

URN: 
urn:newsml:reuters.com:20140327:nS9N0M101L:4
Topics: 
ZA GB ENR MINE METL RTRS MIN BMAT FERR COA EUROPE ENER STEE MEMI US MET AU EUROP IRN COM COAM FRX ASIA EMRG LEN AFR WEU STL AFE CN MTAL NRG AMERS

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