Australia-based coal producer Rio Tinto Coal Australia has announced that it will close the Blair Athol coal mine located near Clermont in Central Queensland after almost 30 years of production.
The company stated that the coal seams are largely mined out and the mine has been progressively scaling back production in a transition towards closure since 2010. It cited "the recent significant drop in thermal coal prices, and other factors such as rising costs and the foreign exchange rate" as the reason for closure. As a result, the company chose to finish the mining operation at the mine instead of trying to extend the life of the mine.
The final day of production at Blair Athol mine will be decided according to the progress of mining operations over coming months, but it is expected to be before December.