El Hatillo mine

From Global Energy Monitor

The El Hatillo mine is owned and operated by CNR (Colombia Natural Resources), a subsidiary of Murray Energy.

The company states that the mine, which produces thermal coal, is located in 210 kilometers southeast of Santa Marta in the central portion of the Cesar Department in Colombia. The company states that "the concession area is adjacent to the town of La Loma and encompasses an area of 9,693 hectares."[1]

In its outline of capital expenditure plans for 2011, Vale stated that the mine, which had US$102 million earmarked for it, is "ramping up to reach its nominal capacity of 4.5 Mtpy in 2012."[2]

The company states that the mine is likely to be depleted by 2021.[3]

Change in ownership

In 2012, Vale Colombia agreed to sell its thermal coal assets in Colombia for $407 million to a unit of Goldman Sachs. The divestiture included Vale’s El Hatillo mine, the Cerro Largo deposit, a port facility on the Atlantic coast of Colombia, and an 8.4 percent stake in the railway that links the mines with the port.[4]

In 2015, Goldman Sachs sold all of its Colombian coal assets, including El Hatillo, to Murray Energy.[5] In selling these assets, Goldman cited "operational issues," which various news sources reported to include labor disputes, protests, legal challenges and more restrictive environmental regulations that had forced repeated shutdowns in recent years.[6][7][8]

Articles and resources

References

  1. Vale, "Annual Report 2009: Coal", Vale, accessed January 2011.
  2. "Vale to invest US$ 24 billion in 2011", Media Release, October 28, 2010.
  3. Vale, "Annual Report 2009: Coal", Vale, accessed January 2011.
  4. Juan Pablo Spinetto, "Vale Sells Colombian Coal Assets to Goldman for $407 Million," Bloomberg, May 28, 2012.
  5. "GOLDMAN SACHS HANDS OVER COLOMBIAN COAL MINES TO MURRAY" (PDF). Latin Lawyer. August 28, 2015.
  6. Cite error: Invalid <ref> tag; no text was provided for refs named :2
  7. "Goldman Sachs in Talks to Sell Its Coal Mines". Wall Street Journal. May 3, 2015.
  8. "Después de ocho meses, La Francia volvió a CNR". El Pilón. 2013-09-23.

Related GEM.wiki articles

External resources

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