After 350 colliery workers were told the mine would close and they would lose their jobs last year, Mining Company Glencore has announced it is looking for a buyer for its underground colliery in Tahmoor.
An intensive effort is underway to keep the mine open however, and a recent increase in coking coal prices has encouraged Glencore to re-evaluate the mine’s prospects.
In a statement released this week, Glencore said it believed the mine had a number of development options for the future.
“We have recently recommenced development for additional longwalls blocks in the North West area, and Glencore has also requested updated assessment requirements for the Tahmoor South Project” the statement said. “The mine presents a potential buyer with the opportunity to establish or increase a strategic position in the Australian coking coal industry. It will be business as usual at the mine until and unless a sale is agreed.”
Last year, Glencore announced the mine that has been producing millions of tonnes of coal since 1979 would not continue mining beyond 2018 because of continued low prices in the global coal markets.