Mining companies are looking for renewable power generation

According to the latest news, the two Chilean copper mines (Escondida and Spence) held by BHP Billiton will jointly pay US$840 million to end a contract signed in 2008 with a coal-fired power plant in northern Chile. Last Friday evening, according to a letter submitted to the local securities regulator, the power company AES Gener stated that the termination date of the agreement signed by BHP Billiton and the Angamos plant has been revised to August 2021. The contract was originally scheduled to end cooperation with Spence Copper Mine in 2026, and the cooperation with Escondida Copper Mine in 2029. Like other mining companies, BHP Billiton has been seeking to generate electricity from renewable sources to reduce its carbon footprint.

Glencore plans to cut coal production

Due to the spread of the new crown pneumonia epidemic and the decline in Chinese imports, global miners Glencore decided to temporarily shut down several coal mines in Australia from September to October, including the Hunter Valley business in New South Wales for at least 2 weeks , And the temporary closure of Collinsville and Newlands coal mines in Queensland. Due to sluggish demand, Glencore has lowered its 2020 production target from 129 million tons to 135 million tons to 111 million tons to 117 million tons, and not long ago, the company also announced the suspension of Colombia’s Protico. Coal mine (Prodeco) 4 years.

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