About those Grassy Mountain Jobs...

Here's a look at one of the bigger players.

Photo: Glencore Canada website

Regarding Grassy Mountain, some time ago we talked about projected job opportunities for the Crowsnest Pass as put forward by Northback (formerly Benga Mining). The number thrown out by them was ballparked at 400. As well, we found that according to mining statistics, for every 100 jobs projected 12 were realized.

That comparison really knocked me out. Now, the variability in the current global market seems to be changing things even more. Given the recent move by Elk Valley Resources (EVR) in conjunction with the coal quality facts laid out by Cornelius Kolijn in yesterday’s interview with Ryan Jesperson, Grassy Mountain appears to be a bigger non-starter than it was originally.

Elk Valley Resources, part of the Glencore Group (formerly Teck Resources) is facing the music of this economic shift and acting accordingly. Here’s an excerpt from an article in the Cranbrook Daily Townsman (Cranbrook, BC) shedding some light on this, which could be yet another projection of things to come.

“Fluctuating economic conditions in the mining industry, spurred by increased steel exports from China and the U.S tariffs, have led Elk Valley Resources (EVR) to cut costs and jobs.”

You can read the brief article here and see what you think.

Thanks for reading.