Centennial’s 30-year-old Angus mine a casualty of coal’s decline
Unlisted coal miner Centennial Coal this week reported that it would place its Angus Place mine, in New South Wales, on care and maintenance during November this year. The miner says that the decision to close Angus Place was taken in response to the prolonged downturn in the international coal markets.
The mine, which has been operating for more than 30 years, produces up to four-million tonnes of coal a year and employs a workforce of 268.
The mine is adjacent to Centennial’s Springvale mine, and the Banpu subsidiary has suggested that a portion of the Angus Place workforce would be redeployed to Springvale, where plans are in place to increase production from its current 4.5-million tonnes a year as part of efforts to improve productivity and reduce costs.
It is expected that about 100 members of the existing Angus Place workforce will be redeployed to Centennial’s Clarence mine and Springvale under the proposed expansion.
The ramp-up in production is currently awaiting joint venture (JV) approval.
Centennial says that the decision to increase production at Springvale, by effectively delivering a second longwall operation to the mine, is essential if the JV is to sustain its competitiveness following the reduction in domestic coal demand in the Western region as a result of the suspension of operations at Wallerawang power station, and lower export prices flowing from the currently oversupplied export thermal coal market.
Meanwhile, Centennial says that, while on care and maintenance, the Angus Place mine will continue to meet safety and environmental regulations and the site will be appropriately maintained to enable the reopening when the Springvale reserves are exhausted in 2023, or earlier, if market conditions improve.
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