Post by
straightbull on Oct 14, 2011 2:09am
TK mining question.
CMK is paying a fortune to have TK mining handle the actual mining at the mine. This does not make sense from a bisness point of view. When are they going to start going it alone? Would it be a simple turnkey operation to switch from TK Mining to Cline Mining?
Comment by
stockhousepundit on Oct 14, 2011 9:38am
Utilizing TK may actually be saving money, by eliminating HR, H & S, and a multitude of administrative costs that such as medicare/medicaid and pension obligations. From the acquirers standpoint, this is also a plus given they will not have to compensate displaced workers with buyouts if they choose to use their own miners instead of TK's.
Comment by
kidman on Oct 14, 2011 12:32pm
TK Mining H&S cost Cline 3 months of development work when their man was killed and the MSHA closed ALL work on the Blue seam for 3 months. Yes,if Cline is bought-out TK mining workers will be dropped like a rock.