Tag Archives: coal crisis
Dead again: Store Norske, after getting ministry to say maybe, gives up on extracting coal at Svea while mines are dismantled
OK, this time the hope of doing any more mining at Svea is truly dead. Honest.
Store Norske says it is giving up on the hoping of extracting coal from the mine while carrying out a government-ordered dismantling of the nearby Lunckefjell mine during the next few years. The decision is oddly timed, occurring shortly after the company finally persuaded skeptical government officials to be open to the possibility after months of effort.
But Administrative Director Jan Morten Ertsaas said the board of directors determined at its most recent meeting the economics and logistics simply weren’t going to work out.
From ‘no’ to ‘maybe’: Mining coal at Svea while dismantling it may be OK, trade ministry official says
The Norwegian government appears to be relenting on its opposition to resuming coal mining at Svea under any circumstances, with a top official now stating the idea will be considered if it can be done cost-effectively while the mine’s infrastructure is removed.
Abandon all hope: Svalbard’s 10 biggest stories of 2017
We’re not going to spin it: the year known as 2017 was a disaster – literally.
An avalanche early on shook the community and its leaders to its foundations, climate change inflicted maybe its most humiliating impact on us yet, Barentsburg suffered through two fatal crashes and the hope of some kind of future in terms of Store Norske’s coal mines suffered a death far more painful than even the most pessimistic envisioned.
The (much) higher price of failure: Cost of dismantling Store Norske’s main mines doubles to 1.5B kroner
Norway’s government has made it clear they’ll pay whatever it takes to shut down virtually all coal mining in Svalbard – and it turns out they’ll pay dearly as the estimated cost is now twice the 750 million kroner originally estimated.
FINAL CLOSURE: Government recommends permanent shutdown of mining at Svea, Lunckefjell
Hopes of resuming large-scale coal mining in Svalbard were dashed Thursday morning – probably permanently – as the Norwegian government is recommending Svea and Lunckefjell remain closed, and that maintenance of the mines cease and most of the infrastructure be removed.
Briefs from Svalbardposten for the week of Sept. 26, 2017
Final fate of Svea and Lunckefjell mines may be determined Oct. 12
The few employees left at Svea will learn if the government supports resuming operations at the coal mine, as well as the one nearby at Lunckefjell, when the proposed national budget for 2018 is submitted Oct. 12.
Dire dozen: Number of people employed in Longyearbyen drops 12 percent due largely to mining, construction losses
The number of people employed in Longyearbyen dropped 12 percent between 2015 and 2016, due primarily to Store Norske completing its large-scale layoffs and suspending most of its mining operations, according to Statistics Norway.
Working out: Store Norske avoids possible strike, may possibly strike it rich by reopening mines
Store Norske just finished shutting nearly everything down four months ago and most of the relatively few remaining workers were talking about going on strike. But the labor dispute was resolved quickly last week and a sustained rebound in coal prices is allowing the company putting together a proposal to resume operations at one or both of its two main mines next year.
Scrappy birthday: Government proposes giving Store Norske 244M more in funding, loans to cope with debt
It might not be the gift Store Norske wants, but it’s apparently the gift the company needs on its 100th birthday as the Norwegian government is proposing giving the company an additional 244 million kroner in funding and loans to allow the company to refinance existing debt.
Pity party? Perhaps not, as Store Norske may have reason for hope during celebrations of its 100th birthday
Last month the company finished shutting down almost everything and laying off almost everyone. This month – and next – the company is the cause of much celebrating.
The coal company’s 100th birthday is Nov. 30 and it’s safe to say the mood isn’t quite what many in Longyearbyen would have liked or expected before a coal price crash sent the company into an economic tailspin and near bankruptcy. But young and old alike are offering a variety of tributes to the company that until the crash was the town’s economic cornerstone.
