SYDNEY Oct 11 Glencore will hire more
than 200 workers at its Collinsville coal mine in Australia
after scaling back its payroll earlier this year, amid resurgent
demand for coal in Asia, the company said on Tuesday.
"We are now seeing increased demand from Southeast Asia for
the specific type of coal produced by Collinsville," the company
Less than a year after the coal industry was declared to be
in terminal decline as governments tackle reducing carbon
dioxide emissions, markets for coal used to generate power and
make steel have surged on factors such as China tightening
regulations on local production.
Thermal coal prices at the Australian port of Newcastle
are up 69 percent this year to $84.20 per tonne,
the highest since January 2014.
Prices for metallurgical coal, used in steel making and also
mined at the Collinsville colliery, have more than doubled since
January to around $200 a tonne.
The 230-strong workforce had been cut by 180, 140 of whom
were redeployed to other Glencore mines.
Glencore is one of Australia's largest coal producers
running 18 mines and employing some 7,650 workers.
(Reporting by James Regan; Editing by Christian Schmollinger)