Washington Post

More than 20 people killed in Congo mining collapse, government says

Posted on May 17, 2013

The government of Congo says more than 20 people have died in a collapse at a bush mine in the region of Masisi in North Kivu province. That’s in the far eastern part of the country.

Study: The coal industry is in far more trouble than anyone realizes

Posted on April 8, 2013

US coal fleet could find itself under threat in the years ahead.

Gold bulls strongest since August as funds retreat: commodities

Posted on December 28, 2012

Gold traders are the most bullish in four months as U.S. lawmakers near a deadline for budget talks, at a time when hedge funds are cutting bets on higher prices.

Commodities speculators lift wagers in longest streak on record

Posted on August 6, 2012

Speculators increased wagers on commodities for an eighth consecutive week, the longest streak on record, just before a report on U.S. job growth sparked the biggest price rally in a month.

U.S. grants Zimbabwe officials visas for blood diamond meet despite rights concerns, sanctions

Posted on June 4, 2012

The Obama administration has granted visas to two senior officials from Zimbabwe to attend a meeting of an international body charged with monitoring and preventing the sale of blood diamonds, despite human rights concerns and financial sanctions against the pair.

Gold! Haitians hope ore finds will spur economic boom from mining for gold, copper and silver

Posted on May 11, 2012

Its capital is blighted with earthquake rubble. Its countryside is shorn of trees, chopped down for fuel. And yet, Haiti’s land may hold the key to relieving centuries of poverty, disaster and disease: There is gold hidden in its hills — and silver and copper, too.

Jewelers want platinum for Asians after gold vaults

Posted on February 29, 2012

Platinum is luring jewelers away from gold after investors’ purchases of bullion to escape market turmoil pushed prices to records.

Residents lose appeal to keep property in central Pa. coal town decimated by underground fire

Posted on February 25, 2012

Residents of a central Pennsylvania coal town decimated by a half-century-old mine fire have lost a state court appeal to try to prevent condemnation of their land, but the long-running case will continue in federal court.

Vale, CSN, MMX Iron-Ore Mines May Be Disrupted by Heavy Rain

Posted on January 5, 2012

Vale SA, Cia. Siderurgica Nacional SA and MMX Mineracao e Metalicos SA operations in southeastern Brazil may suffer output disruptions and transportation delays for a third year because of heavy rains.

Slowing China Means Ore-Ship Rates at Lowest in Decade: Freight

Posted on December 30, 2011

The weakest growth in demand in at least a decade for shipments of iron ore, the second-biggest commodity cargo after crude oil, means rates for the largest vessels will plunge to the lowest level since 2002.

Indonesian workers, Freeport agree on wage hike to end three-month strike

Posted on December 14, 2011

Indonesian workers at Freeport-McMoRan’s largest gold and copper mine said they were ready to end a three-month strike after the company reportedly agreed to a 37 percent wage hike.

Gold gains as European leaders tackle crisis; palladium rallies

Posted on December 9, 2011

Gold rebounded from the biggest decline in more than two weeks as European leaders worked to agree on a plan to save the euro and defuse the debt crisis.

Gold falls as threat of credit downgrades pressures Europe leaders to solve financial crisis

Posted on December 6, 2011

Gold prices fell a second day as the prospect of credit downgrades created more pressure for European leaders to agree on a plan to solve the region’s financial crisis.

Graff Diamonds to use $1 billion IPO proceeds on Asia stores

Posted on November 21, 2011

Graff Diamonds Ltd., the jewelry retailer whose founder twice set records buying gems at auction, plans to use funds from a proposed share sale to add stores in Asia as the region’s demand for luxury goods grows.

The company plans to open outlets in Macau and Hangzhou, the largest city of Zhejiang province in eastern China, next year, Laurence Graff, 73, the chairman and founder of the London-based company said in a Nov. 18 interview with Bloomberg TV. The retailer has 32 stores worldwide including in Tokyo, Hong Kong, Shanghai and Taipei, according to its website.

Coal India to quicken search for overseas mines as output drops

Posted on November 3, 2011

Coal India Ltd., facing a drop in output for the first time in more than a decade, is accelerating its search for overseas assets after talks with Massey Energy Co. and Peabody Energy Corp. failed.

Alexandria coal plant to shut in a year

Posted on October 2, 2011

Old Town Alexandria is in background. The power plant is scheduled to close Oct. 1, 2012. (Tracy A Woodward – THE WASHINGTON POST) The Alexandria power-generating plant that city residents have been trying to shut down for years has been determined to

Coal India to use $9.2 billion cash to pay higher dividends

Posted on September 23, 2011

(Updates with comment from analyst in fifth paragraph.) Sept. 23 (Bloomberg) — Coal India Ltd., the world’s biggest producer of the fuel, plans to use its $9.2 billion of cash to increase production and pay more dividends as investors clamor for

Green energy stimulus costs $5.5 million per job created

Posted on September 17, 2011

The Washington Post reports, the Energy Department loan guarantee program from which the shuttered scandal-ridden Solyndra solar panel company benefitted has created one new permanent job for every $5.5 million spent.

Gold Fields says Peru tax in line with industry preference

Posted on August 27, 2011

Gold Fields Ltd. (GFI), Africa’s second- biggest gold producer, said Peru’s decision to base a new mining windfall tax on operating profit rather than revenue meets companies’ expectations.

Batista’s MPX in negotiations for Colombian coal contracts

Posted on August 19, 2011

MPX Energia SA, the energy company controlled by Brazilian billionaire Eike Batista, is negotiating supply contracts to sell coal from its Colombian unit as it prepares to start production by the end of next year.

Anglo American said to weigh counterbid for Macarthur Coal

Posted on August 19, 2011

Anglo American is exploring a bid for Macarthur Coal that would challenge Peabody Energy Corp.’s $4.9 billion offer for the Australian miner, said two people with knowledge of the matter.

Anglo American, part owner of the world’s biggest platinum and diamond producers, is studying Macarthur’s finances, said one of the people, who declined to be identified as the talks are private. Buying Brisbane-based Macarthur would give Anglo steelmaking-coal mines in Australia as prices trade near a record. Peabody and its bidding partner, ArcelorMittal, took their offer directly to Macarthur shareholders after talks with the board collapsed.

Macarthur Coal lures bidders as Peabody rouses China

Posted on August 5, 2011

Peabody Energy Corp. is leaving the door open for a rival bidder to step in for Macarthur Coal Ltd. by offering less for the Australian mining company than it did last year, even as profit is projected to double.

JSW Energy delays power-project expansion on high coal costs

Posted on July 22, 2011

JSW Energy Ltd., the Indian power producer controlled by the billionaire Jindal family, delayed expansion of an electricity project because of high coal costs.

The company will shelve a planned 3,200-megawatt expansion at a plant in Ratnagiri in the western state of Maharashtra as it waits for coal-pricing “clarity” from Indonesia and Australia, Chief Executive Officer Lalit Kumar Gupta said in an interview in Mumbai yesterday.

Coal-rich China seeks more in Mongolia

Posted on July 17, 2011

China is so big that even if they cut their economy in half they will still need what we have here, said Od, a former Mongolian diplomat in Washington who, along with his younger brother, now controls the Mongolian Mining Corp.