Coal mine closes in Spain due to lack of customers

The underground coal mine La Escondida, located in the Spanish city of Caboalles de Arriba, has closed. This was the last project of this type, located in the Castile and Leon region.

According to local media, the owner decided to close the 60-year-old mine because no energy company wanted to buy its products even at the low price of $ 65 per tonne.

Empresa Nacional de Electricidad, SA was the main client of La Escondida. However, once the most recent contracts expired, the utility company decided to step back and buy imported, cheaper coal.

The closure leaves more than 70 workers out of work. Only 22 of them are eligible for compensation.

While the union operating at the mine is aware of the reality of the market, officials said they still hope new agreements can be reached with the energy company. To promote such deals, they will hold demonstrations and rallies in the coming days.