Colombian Authority Orders Drummond to Stop Coal Loading

Reuters reported that on Friday, privately owned Drummond Company Inc. was ordered to suspend coal loading by Corpamag, a regional environmental authority in Colombia.

As quoted in the market news:

The authority, Corpamag, said in a statement that it had ordered Colombia’s second biggest coal producer to immediately stop loading until it could use the legally required conveyor belt system.

‘The measure, which is of a preventive character, is to be adhered to immediately and can not be appealed against in any way,’ the statement said.

Drummond’s press office told Reuters the company had no comment to make, but a worker at Drummond’s port told Reuters by mobile phone from the site that it was still operating normally, about half an hour after Reuters received Corpamag’s statement.

Click here to read the full Reuters report.