The Drowsy Chaperone (Don Ward)
Updated: 05/20/2013 - Two weekends left to catch one great show!
Cline Mining Corp. says it is extending the suspension of operations at its New Elk coal mine in Trinidad in southern Colorado until market conditions improve.
The company said in July it expected to suspend operations for 60 days to manage costs as metallurgical coal prices fell. It said Monday that due to market forces, it would continue the suspension pending improved conditions. It didn't say when operations might resume.
CEO Ken Bates says the falling prices are a reflection of excess inventories and soft demand.
The suspension of operations has affected about 250 mine employees.
Steven Kelly, director of the Trinidad-Las Animas County Economic Foundation, tells The Denver Post that the small town of Trinidad has felt the effects, including a drop in sales tax revenue.
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