Vale Shutters Australian Operations

Vale said that it plans to close its Integra coal mine in Australia because it is losing money. Murilo Ferreira, CEO of Vale, said it was looking to sell a 15% to 25% stake in its coal operations. Vale’s plans will end output from the Integra mine, but keep the project under care and maintenance. Last month, Integra laid off 500 workers from the Glennies Creek underground and Camberwell open-cut mines near Singleton in New South Wales, Australia, blaming coal prices. Camberwell, now known as Integra open cut, produces 1.3 million metric tons per year (mtpy) of semi-soft coking/PCI coal and 1.2 million mtpy thermal coal; Glennies Creek, now known as Integra underground, produces 2 million mtpy of semi-hard coking coal. It is a longwall operation.