China’s top coal firms lean into power as mining profits slip
Mining costs are rising because of aging deposits that demand deeper bores and increased maintenance to avoid accidents.
Australia’s QCoal said on Saturday a worker had died at its Byerwen coking coal mine in the northeastern state of Queensland, but gave no further details.
Brisbane-based QCoal runs the open-cut mine in the Bowen Basin, of which it owns 85%, in a joint venture with Japan’s JFE Steel Corp.
“QCoal sadly confirms there has been a fatality … this morning,” it said in a statement. It was unclear if the mine, which produces up to 10 million tonnes of coking coal a year, was still operating.
A fire in June at Anglo American’s Moranbah coal mine in the region helped underpin prices for the steel-making ingredient.
(By Melanie Burton; Editing by Clarence Fernandez)
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