Alberta to introduce ‘modern’ coal policy, including ban on new open-pit projects
The new policy will not affect those qualified as "advanced coal projects" such as the controversial Grassy Mountain mine.
Giant Russian steel and coking coal producer Mechel OAO said on Wednesday it has halted operations at its Sibirginskaya mine due to high gas levels in a mined-out area, which indicates self-heating of coal. Mining works at the site were halted and all miners returned to the surface. No carbon monoxide was detected.
The company’s American Depositary Receipts lost over 4% in midday trade in New York on the news. It has a market capitalization of over $10bn and employs 88,000 workers.
Mining at the Sibirginskaya mine is currently halted, with the mine’s experts working on the way to liquidate the source of self-heating. The mine’s entire production infrastructure, including transport, ventilation, pumps, power facilities, tunneling faces and active mine-working areas are operational and safe.
