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The Bullmoose
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kimerajamm



Joined: 28 Nov 2010
Posts: 416

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Tumbler Ridge was built to provide a labour force for the coal mining industry, which has remained the dominant employer throughout the town's history. The mining companies had a contract to sell 100 million tons of coal to a consortium of Japanese steel mills over 15 years for US$7.5 billion (1981). The Quintette Operating Corporation (QOC) was formed by partnership between Denison Mines (50%), Mitsui Mining (20%), Tokyo Boeki (20%), and other smaller firms, and began blasting at the Quintette mine in October 1982. The Bullmoose Operating Corporation was formed by the Teck Corporation (51%), Lornex (39%), Nissho Iwai (10%) and worked the smaller Bullmoose mine. The economic viability of the mining companies were in question since the world coal prices began falling in the early 1980s and the Japanese consortium requested reduced prices. After the Supreme Court ruled that the coal prices must be reduced, the QOC filed for court protection from its creditors allowing the Teck Corporation to take over management in 1992. By 1996, even as lay-offs continued, over half the town's labour force were employed at one of the two mines.[46] New contracts with the Japanese consortium, signed 1997, moved production to the lower cost Bullmoose mine but guaranteed production until 2003 when that mine was expected to be exhausted. The Quintette mine was closed altogether on August 31, 2000.


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