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Venezuelan Coal Miner Declares Force Majeure, Reuters Reports

Dec. 7 (Bloomberg) -- 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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