Venezuelan Coal Miner Declares Force Majeure, Reuters Reports

Venezuelan coal mining venture Guasare Coal International declared force majeure on shipments from Venezuela’s Maracaibo port, Reuters reported, citing coal buyers in Europe which it didn’t name.

Guasare is a joint venture between Venezuela’s Carbozulia, Peabody Energy Corp. and Anglo American Plc, Reuters said. The venture operates the Paso Diablo mine in Venezuela’s Zulia state, which produces 6 million tons a year of energy coal.

Phone calls to Carbozulia in Venezuela seeking comment weren’t answered.

Force majeure is a contractual clause that allows a company to break supply commitments because of circumstances beyond its control.

To contact the reporter on this story: Daniel Cancel in Caracas at dcancel@bloomberg.net.

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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