Hillsborough Resources
| Company type | Private |
|---|---|
| Industry | Nonmetallic Mineral Mining |
| Headquarters | , |
Key people |
|
Number of employees | 138[2] |
| Parent | Vitol Anker International BV |
| Website | www.hillsboroughresources.com |
Hillsborough Resources Limited was a privately-held coal mining company headquartered in Vancouver, British Columbia, Canada.
Hillsborough operated the Quinsam underground thermal coal mine near Campbell River, British Columbia from 1987, serving the local and west-coast United States cement industry,[1] and the Crossville underground coal mine in Tennessee, United States serving the regional power utility and industrial markets.[3] It also developed the Wapiti Thermal Coal mine near Tumbler Ridge.[4] In addition, Hillsborough owned and operated the Middle Point Barge Loading Facility located on Vancouver Island, Canada.[5]
The company's Crossville mine had discontinued operation by 2007,[3] and the company closed the Quinsam mine in 2016 due to economic pressure, firing 66 people in the process.[1]
It emerged out of bankruptcy protection in 2000 to fend off a takeover bid offering in 2000 $0.18 per share, by Vulcan Capital Management.[6] However, effective December 21, 2009, Vitol Anker International B.V. of the Vitol Group acquired Hillsborough Resources Limited for $0.50 per share, inheriting all its debt.[7]
References
[edit]- ^ a b c Duffy, Andrew (January 21, 2016). "Low prices shutter Island's Quinsam coal mine". Times Colonist (Print (for original citation)). Victoria, British Columbia: Glacier Community Media. p. 4. Retrieved March 11, 2020.
- ^ "Company Profile for Hillsborough Resources Ltd (CA;HLB)". Archived from the original on 2012-03-13. Retrieved 2008-10-14.
- ^ a b "$17.5m lost in Tennessee pit". Business Briefs. The Province (B.C. ed.). Vancouver, British Columbia: Pacific Newspaper Group (CanWest). March 28, 2007. p. A40 – via Newspapers.com.
- ^ "Coal deal signed". Prince George Citizen. Prince George, British Columbia. July 10, 2008. p. 14.
- ^ "New owners for terminal". Campbell River Mirror. Campbell River, British Columbia. April 11, 2007. p. 11.
- ^ Schreiner, John (August 23, 2000). "Out of the frying pan Hillsborough Resources Ltd. is emerging from 15 months of bankruptcy protection to face angry shareholders and a takeover bid". National Post. p. C4.
- ^ "MERGER: Hillsborough and Vitol execute agreement". Canadian Mining Journal. November 8, 2009. Retrieved March 4, 2020.