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Home* News and Stories → Coal production in Sveagruva profitable

Coal production in Sveagruva profitable

In 2008, about 2 million tons of coal were mined already until early July, more than 300 000 tons more than expected. This together with rising prices on the world market makes for smiling faces in the management of the Norwegian mining company Store Norske Spitsbergen Kullkompani (SNSK), which is making profit – a rare event in the long history of the company. SNSK expects to have paid its debts back by the end of the year. The coal is exported to Europe, where about 60 % are used in energy production and 40 % in the steel industry.

The area of Svea from above.

Coal production in Sveagruva profitable

Source: Svalbardposten

last modification: 2014-07-01 · copyright: Rolf Stange