By Nelson Bocanegra BOGOTA (Reuters) - Cerrejon, a subsidiary of Anglo-Swiss commodities giant Glencore, said on Tuesday it will begin reducing production at its Colombia coal mine by between 5
Glencore's Cerrejon to Slash Coal Output by 10 Million Tons
By Nelson Bocanegra
BOGOTA (Reuters) - Cerrejon, a subsidiary of Anglo-Swiss commodities giant Glencore, said on Tuesday it will begin reducing production at its Colombia coal mine by between 5 million and 10 million tons annually, taking output to between 11 million and 16 million tons.
"The principal reason for this reduction is due to unsustainable prices for thermal coal transported via sea," the company said in a statement posted on its website. "We believe the decision to reduce production will contribute to guaranteeing the sustainability of operations and the capacity for the company to continue creating income for the region and the country."
Cerrejon, one of Colombia's major coal producers, notched an output of 19 million tons of coal last year. It has long-running legal problems with communities around the mine and blockades of its rail line occur regularly.
(Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb)
