Total SA suspends $11B Joslyn oil sands mine in Alberta, lays off up to 150 staff

***************

Good news concerning the Joslyn Mine in Alberta, Canada…

“Joslyn is facing the same challenge that most of the industry worldwide is in the sense that the costs are continuing to inflate when the oil price and specifically the netbacks from the oil sands are remaining stable at best,” he said. That is squeezing margins and “cannot be sustainable in the long-term.”

Total SA suspends $11B Joslyn oil sands mine in Alberta, lays off up to 150 staff                     http://www.windsorstar.com/business/fp/Total+suspends+Joslyn+sands+mine+Alberta+lays+staff/9889319/story.html