Future Of Griffin Coal Mining Companies

Coal mining company, Griffin Coal Mining Co. facing financial problems to continue mining exploration project, because the mining company Griffin Coal Mining in debt to the holders of bonds worth $ 475 million and taxes payable to the government. The total debt incurred by the Griffin Coal Mining $ 629 million.

Griffin Coal Mining is a coal mining company which supplies coal to power plants in Western Australia. Mining companies produce 5 million tons of metric tons per year, so the existence of mining companies is essential for the survival of the availability of electrical energy to western Australia.

If the mining company went bankrupt Griffin Coal Mining, the possibility of electrical energy crisis in Western Australia, more affecting the survival of industries and economic activities. Another impact of the presence of mining companies Griffin Coal Mining, the number of miners who will lose their jobs, because the mining company employs 500 people miners.

Executive and administrator Griffin coal mining companies will meet with Prime Minister of Western Australia to discuss the impact of electricity generation capacity for the state, if the Griffin Coal Mining companies will be closed.