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Canada`s biggest producer of coal for the steelmaking industry appears poised for a massive increase in profits, thanks to a "massive squeeze" in global supply. The price for a tonne of hard coking coal - vital to the production of steel - is expected to double in the contract year that begins April 1, from last year`s settled price of about $94, to $185 or higher for the coming year.
That means a potential windfall for Elk Valley Coal Partnership, the operators of a series of coal mines in southeast B.C. which comprise the world`s second-largest source of coal for the intercontinental steelmaking market.
http://www.canada.com/vancouversun/news/bu...0675&k=2755
That means a potential windfall for Elk Valley Coal Partnership, the operators of a series of coal mines in southeast B.C. which comprise the world`s second-largest source of coal for the intercontinental steelmaking market.
http://www.canada.com/vancouversun/news/bu...0675&k=2755