Canada keeps spirits high

DELEGATES from across Canada and around the globe will descend on Vancouver in British Columbia tomorrow for the Coal Association of Canada Conference with undimmed optimism, despite the hammering they have taken over the last 12 months or so.
Canada keeps spirits high Canada keeps spirits high Canada keeps spirits high Canada keeps spirits high Canada keeps spirits high

 

Anthony Barich

“The past year has been challenging for Canada’s coal industry with low commodity prices, mines being idled and projects being delayed,” Coal Association of Canada president Ann Marie Hann said.

“But the optimism and resiliency of the industry that is so vital to Canada’s economic and social wellbeing cannot be dampened.

“Our conference couldn’t be timelier as we’ll hear from international coal experts on what the future holds for Canada’s coal industry from a domestic and global perspective.”

Coal’s importance to Canada’s economic and social wellbeing is best illustrated by the fact that the coal industry contributed an estimated $C5.2 billion ($A5.11 billion) to Canada’s GDP.

The industry also provides royalty and tax payments exceeding $700 million annually.

The conference will have a special focus on the metallurgical (steelmaking) coal industry, as Canada is the third largest exporter of metallurgical coal in the world.

Australia’s Chris Urzaa of HDR Salva and Dr J Neil Bristow of H&W Worldwide Consulting will headline the conference, joined by Paul Vining of Alpha Natural Resources and Ernie Thrasher of Xcoal Energy and Resources from the US.

Hiroshi Tanaka of Kobe Steel in Japan will also present the coal buyer’s perspective, addressing what impacts current weak prices are having on coal supply to industrial steel producers.

Mike Monea of SaskPower will also detail Canada’s preeminent Boundary Dam carbon capture and storage pilot project, while Joe Aldina of Wood Mackenzie from New York will give an overview of global and Canadian thermal and metallurgical coal markets.

Canadian coal producers Teck Resources, Westmoreland Coal Company and future producer Coalspur Mines will also present, while Dan Chu of the Deutsche Bank will provide commentary and analysis on what impact the current coal economic climate is having on mergers and acquisitions in the sector.

The conference runs on September 10-12.

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