Coal News

Coal mining, investment and price news

Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

Cecilia Jamasmie | January 27, 2015
Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.

Congo risking billions with planned tax hike, mining code revision

Cecilia Jamasmie | January 27, 2015
Congo risking billions with planned tax hike, mining code revision

The central Africa nation may also lose its position as the continent’s top copper producer.

Loonie to hit 85 cents US in 2016 as Bank of Canada hikes key rate, TD forecasts

Business in Vancouver | January 26, 2015

Canadian dollar expected to fall to 75 cents U.S. before slowly climbing back to 85 cents by the end of 2016

Cliffs Natural removes quarterly dividend to repay debt

Cecilia Jamasmie | January 26, 2015
Cliffs Natural removes quarterly dividend to repay debt

It also said it has reduced its net debt balance by more than $400 million.

Kosovo miners return from underground, ending 3-day strike

Andrew Topf | January 26, 2015
kosovo

Hundreds of miners in Kosovo are back on shift following a three-day work stoppage to protest against the Kosovo government, which backtracked on an earlier decision to take control of the Trepca mining complex.

Anglo American mulls sale of more coal mines in Australia

Cecilia Jamasmie | January 23, 2015
Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Anglo hit by platinum, iron ore units lower earnings outlooks

Cecilia Jamasmie | January 23, 2015
Anglo hit by platinum, iron ore units lower earnings outlooks

The miner shed over 3.7% after two of its business divisions — Amplats and Kumba — warned they expected full-year earnings to shrink more than previously flagged.

World Bank: Commodities falling like it's 1985

Frik Els | January 23, 2015
World Bank: Commodities falling like it's 1985

Organization predicts a rare occurrence in 2015: a decline in all nine commodity indices with industrial metals falling another 5%; precious metals down 3%.

Global mining sector ended 2014 on a disappointing note: report

Cecilia Jamasmie | January 21, 2015
Global mining sector ended 2014 on a disappointing note: report

December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.

Rise and fall: power and gas prices plummet from 5-year highs during frigid start to 2014, as coal prices continue decline

SNL Energy | January 21, 2015

As the polar vortex froze much of the U.S. at the beginning 2014, the period of intense cold created demand, supply and transportations factors that led to the highest prices for power and spot gas seen over the past five years.

China’s alleged intentions to mine Antarctica spark global debate

Cecilia Jamasmie | January 21, 2015
China’s alleged intentions to mine Antarctica spark global debate

New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.

BHP breaks production records, but copper output drops

Frik Els | January 21, 2015
BHP warns more cost cuts, management shake up before demerger

World number one miner BHP Billiton achieved record production for eight operations and five commodities over the last six months.

Glencore likely to slash spending on coal, oil — HSBC

Cecilia Jamasmie | January 20, 2015
Glencore likely to slash spending on coal, oil — HSBC

The global miner and commodities has estimated spending on oil projects for this year and next of $2 billion and $1 billion on coal expansions.

ArcelorMittal sells its coal mines to Russia's National Fuel Company

Cecilia Jamasmie | January 19, 2015
ArcelorMittal sells its coal mines to Russia's National Fuel Company

The assets include the coal mines of Berezovskaya and Pervomaskaya, which together produce 700,000 tonnes of coal a year.

Former Anglo American executive accused of $9.8 million fraud

Cecilia Jamasmie | January 16, 2015
Former Anglo American executive accused of fraud

The miner is now accusing him of 'misappropriating' $9.8 million, more than twice as much as previously thought.

European coal extends losses as lower mining costs prolong glut

Hellenic Shipping News | January 15, 2015

European thermal coal for delivery next year extended losses as plummeting oil prices reduced mining costs and an oversupply of the mineral in the seaborne market was forecast to treble.

These are the top 10 global mining trends for 2015

Cecilia Jamasmie | January 15, 2015
These are the top 10 global mining trends for 2015

Price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of financing will make of 2015 another challenging year for the sector.

Adani's $15bn coal mine in Australia facing fresh legal challenges

Cecilia Jamasmie | January 15, 2015
Adani's $15bn coal mine in Australia facing fresh legal challenges

An environmental group is attempting to radically change the way mining projects are assessed with a court case involving Adani's controversial coal mining complex in Queensland.

‘Mick the Miner’ goes after Vale's nickel assets

Cecilia Jamasmie | January 14, 2015
‘Mick the Miner’ goes after Vale's nickel assets

The 56 year old who built Xstrata into one of the world’s biggest mining firms and then sold it to Glencore, is tipped to be on the verge of landing his first big fish.

Poland struggles to restructure largest coal miner in Europe

Australian Mining | January 13, 2015

Polish coal mining giant Kompania Weglowa will be restructured in an attempt to cut costs and rescue the company from a second year of losses.

Massive Canadian Donkin coal project now property of U.S. miner

Cecilia Jamasmie | January 13, 2015
Massive Canadian Donkin coal project now property of U.S. miner

The project is sitting on one of the largest undeveloped coal deposits in North America,

Alpha Natural Resources president steps down to be CEO of another coal miner

Cecilia Jamasmie | January 13, 2015
Alpha Natural Resources president steps down to be CEO of another coal miner

Paul Vining will become CEO of an affiliate of Cline Group, focused on the acquisition and operation of coal mines outside of the U.S.

Sandvik unveils new mid-range mining crushers

Cecilia Jamasmie | January 13, 2015
Sandvik unveils new mid-range mining crushers

Part of the firm's CH800 series of mining cone crushers, the two models aim to help improve productivity and profitability in the mid-range segment.

Queensland coal exports reached record high in 2014

Cecilia Jamasmie | January 13, 2015
Queensland coal exports reached record high in 2014

In 2013-14, Queensland coal producers spent $19 billion state-wide on wages, goods and services and voluntary community contributions.

China’s green ban hitting Aussie coal exporters hard

Cecilia Jamasmie | January 12, 2015
China’s green ban hitting Aussie coal exporters hard

Australia exports as much as 49 million tonnes of thermal coal a year to China.

Battle for control of Asia Resource heats up

Cecilia Jamasmie | January 12, 2015
Battle for control of Asia Resource heats up

Its chairman Bob Kamandanu decided to step down only weeks ahead of a vote proposed by largest shareholder Samin Tan to replace most directors and take the reins at the company.

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