Hillsborough Resources

Hillsborough Resources Limited was a privately-held coal mining company headquartered in Vancouver, British Columbia, Canada.

Hillsborough Resources Limited
Private
IndustryNonmetallic Mineral Mining
Headquarters
Vancouver, British Columbia
,
Canada
Key people
  • David J. Slater
  • David Turnbull (CEO as of 2016)[1]
Number of employees
138[2]
ParentVitol Anker International BV
Websitewww.hillsboroughresources.com

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, plus inheriting all its debt.[7]

References
  1. 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.
  2. "Company Profile for Hillsborough Resources Ltd (CA;HLB)". Retrieved 2008-10-14.
  3. "$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.
  4. "Coal deal signed". Prince George Citizen. Prince George, British Columbia. July 10, 2008. p. 14.
  5. "New owners for terminal". Campbell River Mirror. Campbell River, British Columbia. April 11, 2007. p. 11.
  6. 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.
  7. "MERGER: Hillsborough and Vitol execute agreement". Canadian Mining Journal. November 8, 2009. Retrieved March 4, 2020.
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