Russian Coal Operator SUEK to Shutter Mine Due to Low Coal Prices, an Industrial Info Market Brief
SUEK -- one of the world's largest coal and energy companies, the leading coal producer and one of the largest heat and power generators in Russia -- has decided to shutter its Apsatskiy coal mine, which has an annual capacity of 600,000 tons, due to the current market conditions and low demand caused by COVID-19. The plant was shut in March and will not operate until September. If the price continues to decline by that time, the plant will be mothballed for five years.