SNL Financial

Foresight deal would land Murray Energy at top of US coal's two hottest basins

Murray Energy plans to expand its footprint in the U.S. coal sector's other geographical hot spot with a major $1.40 billion investment in Illinois Basin-producer Foresight Energy LP.

Majors' gold reserves shrink under pressure from lower gold prices

As predicted in February, a 15% year-on-year drop in the gold price in 2013 forced mining companies to lower the prices they use to calculate their gold reserves.

SNL Energy: Coal, gas deliveries down in 2013 YOY among most ISOS

Total 2013 coal and gas deliveries to plants filing the monthly EIA 923 were down 2% and 12% respectively, compared to the previous year.

SNL Energy: more than 14 GW of noncoal capacity scheduled for retirement by 2023

Of upcoming noncoal retirements, more than 77% can be attributed to natural gas-fired capacity, while PJM has the largest percentage of total noncoal capacity retirements at the ISO/RTO level.

Largest coal mines still in Wyoming, but US is diversifying

The Powder River Basin was the home of the top nine producing mines in the U.S. during 2013, but the number of PRB mines in the top 25 declined compared to 20 years ago, according to SNL Energy data.

SNL Energy: Cold January boosted capacity factor of retiring coal plants above 50%

This extremely cold winter prompted an increased reliance on units slated to retire by the end of 2015.

US coal demand slipping, but some basins faring better than others

Coal remains the largest source of fuel for electric generation in the United States. However, demand is shrinking.

SNL Energy: James River Coal's recovery from bankruptcy could be hindered by contracts

Rocked by weakening thermal coal demand and a depressed metallurgical coal market, James River Coal Co. filed for bankruptcy reorganization April 7.

Falling gold prices forcing companies to recalculate reserves

A 15% year-on-year drop in the average annual gold price in 2013 is forcing gold producers to revise the prices they use to identify ores that are profitable to mine,

Traders don't see fool's gold as they invest more in copper

Copper traders are the most bullish in 15 months on mounting confidence that the U.S. economy will rebound at a time when China's recovery is gaining momentum.

OTC market: Weak market has US coal producers looking beyond borders for relief

Coal prices were mixed the week ended Jan. 31, reflecting the uncertainty about the timing and likelihood of a domestic thermal market recovery, and leading domestic coal producers to look beyond U.S. borders for relief.

Coal becomes Mozambique's 2nd-largest export earner

During the first six months of 2012 coal became Mozambique’s number two export, the Bank of Mozambique has revealed in its recent ‘Economic Climate and Inflation Perspectives’ report.

Lanco Infratech aims to quadruple Australian coal mine output

NEW DELHI: Lanco Infratech plans to quadruple annual coal production to 16 million tonnes by 2015 from its Griffin mines in Australia.

Work stoppage ends at Glencore's Colombian coal mine

Anglo American's Q3 met coal output surges 12%, thermal coal dips 15%

Patriot Coal requests 180-day extension to reorganize company under Chapter 11

Patriot Coal Corp. asked the U.S. Bankruptcy Court for the Southern District of New York for a 180-day extension to file its reorganization plan — moving the deadline to May 5, 2013, from Nov. 6 — due to myriad complications incurred since initially filing for Chapter 11.

Australia's Exalt seeks substantial portfolio of Indonesian coal assets

Australia-listed Exalt Resources Ltd. said it has signed a sales and purchase agreement to acquire 100% of Singapore-incorporated Odni Holdings (Pte.) Ltd. The move would allow Exalt to build a portfolio of substantial and diverse coal assets in Indonesia.

W.Va. Supreme Court must decide MSHA liability for fatal 2006 mine fire

MORGANTOWN — A federal appeals court said Tuesday the state Supreme Court should decide whether Mine Safety and Health Administration inspectors can be held liable for coal miners’ deaths, calling it “a matter of exceptional importance for West Virginia.”

Australia mine strikes near end as BMA, unions agree to framework deal

The BHP Billiton Mitsubishi Alliance, or BMA, and coal worker unions agreed to framework July 6 that would end an 18-month dispute and potentially keep fourth-quarter benchmark metallurgical coal prices from soaring.

S&P lowers Walter Energy outlook to negative on met coal pricing pressure

Standard & Poor's Ratings Services on July 5 lowered its outlook on Walter Energy Inc. to negative from stable, citing continued pressure on metallurgical coal prices due to a slowdown in global steel production.

Cliffs slashes thermal coal sales, production volume expectations at W.Va. mine

Cleveland-based Cliffs Natural Resources Inc. said June 15 that it is reducing its full-year 2012 thermal coal sales and production volume expectations to approximately 800,000 tons from 1.1 million tons at its Toney Fork No. 2 surface mine in Logan County, W.Va.

Weak US coal market leaving holes in open-hopper barge capacity for 2012

The open-hopper barge fleet, at times booked a year in advance during stronger coal markets, still has capacity in 2012, Ingram Barge Co. Senior Vice President and Chief Commercial Officer Daniel Martin said in an interview June 15.

Drummond claims report of Colombian coal deal with Aditya Birla is false

Alabama-based coal producer Drummond Co. Inc. said a news report that the company might sell a portion of its Colombian operations to Indian conglomerate Aditya Birla Group "has no foundation and is a false report."

Judge lifts restraining order to allow mining to resume at W.Va. surface mine

A federal judge has lifted a temporary restraining order to allow continued mining operations at the Nellis surface mine in Boone County, W.Va., which is owned by Penn Virginia Resource Partners LP's Loadout LLC unit.

Court approves Oilsands Quest asset sale

Oilsands Quest Receives Court Approval of $7 Million Sale of Eagles Nest Asset

Crandall Canyon mine operator pleads guilty to misdemeanors over 2007 fatalities

Genwal Resources Inc., a Murray Energy Corp. subsidiary, has pleaded guilty to two misdemeanors to settle a federal investigation into the August 2007 fatalities at its Crandall Canyon coal mine in Utah.