Cline to meet obligations despite coal mine closure

Jul 18, 2012 | 10:18 AM | Stacy Irish

Tags  Cline Mining, metallurgical coal, New Elk, Ken Bates

NEW YORK — Canadian metallurgical coal producer Cline Mining Corp. said it believes it can meet its financial obligations in the medium term, despite suspending production at its New Elk Mine, according to a results statement released this week.

Last week, the miner announced plans to halt production at its New Elk coal mine in southern Colorado and cut the work force by 78 percent due to weak demand for coking coal. ....

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