Coal News

Coal mining, investment and price news

Glencore slashes Australian coal production

Cecilia Jamasmie | February 27, 2015
Glencore slashes Australian coal production

The cuts include scaling back some operations and deferring projects. Further job cuts to follow.

Poor provincial grade disputed by BC mining group

Cecilia Jamasmie | February 26, 2015
poor-provincial-ranking-disputed-by-bc-mining-group

The Association for Mineral Exploration British Columbia says the province still top destination for companies and investors.

Massive drop in mining exploration funding in Western Australia, survey finds

ABC News | February 25, 2015

Mining companies in Western Australia have massively reduced their exploration budgets, a new survey has found.

Rio's Turquoise Hill gets rid of remaining stake in SouthGobi

Cecilia Jamasmie | February 25, 2015
Rio's Turquoise Hill gets rid of remaining stake in SouthGobi

Chinese Novel Sunrise Investments has agreed to buy 48.7 million shares in SouthGobi —which was once worth over US$2.4 billion —for 35 cents per share in cash.

South Africa drops out of top 10 in Africa for mining investment

Frik Els | February 24, 2015
South Africa drops out of top 10 in Africa for mining investment

Namibia and Botswana top the latest mining investment attractiveness index for the continent and move into top 25 worldwide.

Biggest steel breakthrough in decades

Frik Els | February 24, 2015
Biggest steel breakthrough in decades

Korean scientists create a cheap, flexible steel with a strength to weight ratio of today's best titanium alloys using a nickel catalyst.

Cecilia Jamasmie

BHP pins hopes on spin-off South32

Cecilia Jamasmie | February 24, 2015
BHP pins hopes on spin-off South32

In the second half of 2014 the businesses bound for South32 generated $5bn worth of revenue and almost $890m of earnings before interest and tax.

Canada’s Saskatchewan second only to Finland as world’s top mining destination

Cecilia Jamasmie | February 24, 2015
Canada’s Saskatchewan second only to Finland as world’s top mining destination

The potash and oil-rich province was placed at the top of the Fraser Institute's annual rank of mining companies.

BHP slashing costs faster than expected

Frik Els | February 23, 2015
New low in oil prices drags BHP Billiton stock below 2009 levels

World number one miner notches "productivity gains" of $2.4 billion as profits fall 47% in second half of 2014.

Coal miners jailed for Mongolia tax evasion seek pardon

Frik Els | February 23, 2015
Coal miners jailed for Mongolia tax evasion seek pardon

US citizen Justin Kapla and two Philippine nationals sentenced to 5 – 6 years in jail while working for coal miner SouthGobi appeal to Mongolian president.

Auction of coal mines in India to lower power tariff — President

The Economic Times | February 23, 2015

India's government says to be committed to bringing transparency in the allocation of natural resources including coal.

Australia’s Hunter Valley coal's health bill more than $460m a year

Cecilia Jamasmie | February 23, 2015
Australia’s Hunter Valley coal's health bill more than $460m a year

The figure, estimated by doctors, is based on the health costs and lost productivity from coal-related respiratory and cardiac issues.

Chinese plans to transform coal would worsen global warming

Climate Wire | February 23, 2015

Chinese companies press forward with plans to process coal into other fuels, despite water scarcity and excess climate change pollution

Russia opens its largest coal mine

Cecilia Jamasmie | February 23, 2015
Russia opens its largest coal mine

The Arshanovsky open cut mine is expected to yield 10 million tonnes of coal a year once at full capacity.

Chile’s Codelco likely to buy Anglo’s unwanted copper assets — report

Cecilia Jamasmie | February 22, 2015
Chile’s Codelco likely to buy Anglo’s unwanted copper assets — report

Anglo’s assets up for grabs include three mines and a smelter valued at $1 billion.

Coal mine blast kills eight, traps 40 in Pakistan

Cecilia Jamasmie | February 21, 2015
Coal mine blast kills eight, traps 40 in Pakistan

After methane gas explosion triggered a collapse in a coal mine located about 145 km. off the provincial capital of Quetta.

Coal price rally with legs as India overtakes China

Frik Els | February 18, 2015
Coal price rally with legs as India overtakes China

Thermal coal prices have jumped 22% in a month as mines close. Surging Indian imports, set to overtake China's in 2015, will support prices longer term.

Strikers return to work at Polish coking coal miner JSW

Platts | February 16, 2015

Workers at Europe's largest coking coal miner Jastrzebska Spolka, Weglowa returned to work Monday after union leaders suspended a strike following a statement by the company's CEO that he would resign if they did so.

Indian police seek arrest of Australian mining chief Bruce Munro

Sydney Morning Herald | February 15, 2015

Indian police want to arrest top Australian mining chief executive Bruce Munro, as part of a criminal investigation into allegations he "cheated" a business partner in a multibillion-dollar coal deal.

Teck profits slashed in half on weak coal, copper prices

Business in Vancouver | February 15, 2015

Teck Resources Limited (TSX:TCK.B) saw its 2014 profit fall by more than half compared with 2013 as copper and steelmaking coal prices remained low throughout the year.

World Coal Association calls for greater investment in cleaner coal technologies

World Coal Association | February 13, 2015
coal emissions pollution mining

Technologies such as high efficiency, low emissions (HELE) coal plants and carbon capture, use and storage (CCUS), can make a significant contribution to reducing global CO2 emissions as part of the energy mix.

Anglo American's big write-down

Michael Allan McCrae | February 13, 2015
minas rio anglo american write down brazil

Minas Rio.

"We haven’t seen capitulation in natural resources yet"

Sprott's Thoughts | February 13, 2015

During a period of polarizing precious metals and industrial commodity pricing, Rick Rule, Chairman of Sprott U.S. Holdings was kind enough to share a few comments—opining on global counterparty risk, resource capital markets, capitulation, and more.

Teck's profits drop 22 pct

Michael Allan McCrae | February 12, 2015
coal zinc copper teck profit drops fort hills

"At current exchange rates, each US$1 change in the price of a barrel of oil has an approximate $5 million effect on our operating costs."

Visual Capitalist

INFOGRAPHIC: Project generators: exploration risk for less cost

Visual Capitalist | February 12, 2015
Drill rig on minesite in Western Australia

In a bear market for junior miners, exploration capital can be hard to come by.

Glencore slashes capital spending as commodity prices bite

Sydney Morning Herald | February 12, 2015
Anglo American tries again: submits plan to expand coal mine in Australia

Glencore has slashed spending for this year by up to $US1.4 billion amid a rout in commodity prices, and will spin-off its stake in the unwanted South African platinum producer Lonmin inherited in its merger with Xstrata two years ago.

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