Coronado Global Resources has taken the decision to restart its Buchanan and Logan mining operations, in the US, on June 1.
The company noted that as a result of substantial inventory reduction over the past two months, the idled mines would resume production to jointly provide more than 90% of Coronado's US saleable coal production.
The mines will operate at production levels sufficient to satisfy domestic metallurgical contracts and to limit exposure to the volatility of European and Brazilian markets.
While the export of hard coking coal to the Asian markets will continue from the Buchanan operation, neither Buchanan nor Logan will be producing thermal coal.
"Consistent demand from our US domestic and Asian customers have seen our US stockpiles reduce considerably since we idled the US mines two months ago. We are restarting production at Buchanan and Logan at levels that are in line with demand from these key markets," said Coronado MD and CEO Gerry Spindler.
"We anticipate production at these mines will continue for the remainder of the year," he added.
The Greenbrier mine will not restart production at this time, but will be assessed regularly in line with market demand, Spindler said.
(Writing by Becky Du Editing by Tammy Yang)
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