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Compliance Energy Corp Is a Canada-based exploration and development company. The company is engaged in the exploration and development of resource properties. The firm is an exploration and development company working on resource properties it has staked or acquired, principally on Vancouver Island. It has interest in Comox Joint Venture (CJV), which holds the Raven Underground Coal Mining... see more

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Compliance Energy Corp > Quinsam lays off 1/2 workforce: Aus. scraps coal expansions

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Post by mokita on Jun 20, 2014 10:26pm

Quinsam lays off 1/2 workforce: Aus. scraps coal expansions

See Reuters article on continuing decline of coal, bankrupt coal companies, coal stocks, coal expansions worldwide and Raven neighbour, Quinsam , that has very recently laid laying off more than half of its mere 144 workers. For those fans who still use the jobs card, Hillsborough, like CEC promised over 300 jobs, which is the industry generic number to get social licence. Total number of workers has stabilized at around 144 and trend towards robotics and bigger machinery will reduce these jobs.

https://www.reuters.com/article/2014/06/20/australia-coal-port-idUSL4N0P119T201406

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Comment by The_Shadow on Jun 21, 2014 3:02am

LOL! Mokita you are obviously too ignorant about how commodity cycles always have moved for 100s of years as you think that your post is negative news for us actual CEC investors! What you have posted is actually positive, good news for coal since this is the way commodity cycles have always worked. When there is too much supply vs demand, then the price of the commodity comes down so much ...more

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