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Coal News Digest
Saturday 29 April 2017
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With the Foreign Investment Review Board’s approval, Rio Tinto is a step closer to fully exit thermal coal.

The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.

The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.

Miners have begun spending in equipment again, the Swedish firm's results show.

Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.

–9% on Friday.

They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.

Production for the first three months of the year slumped 37% compared with the same period of 2016.

Drops 4% to $289.50 a tonne despite greater than expected Australian supply outage.

The miner said it was unwilling to take the steps required to satisfy Australian steel makers to get the approval of the transaction, which would have its major deal since spinning off from BHP in 2015.

Rick Perry expressed concerns about the diversification of power sources and the stability of the country’s grid

Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.

Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.

Company says the associated risks of spinning off about $22 billion of its US oil assets and listing them in New York would significantly outweigh any potential benefits.

Coking coal prices gained 86% to $283.10 a tonne this week, the biggest gain in four years.

BHP Mitsubishi Alliance (BMA) has announced it will invest over two hundred million dollars into the Bowen Basin, creating hundreds of jobs, which shows the ongoing strength of Queensland’s coal industry.

A new poll by Morning Consult for the National Mining Association (NMA) shows that most American voters are unaware of the environmental and technological advancements in teh industry.

Vancouver company focused on bringing $13 billion oil sands project into production before the end of the year

Burning coal, oil, and natural gas is responsible for two-thirds of humanity’s emissions of greenhouse gases, and yet provides more than 20% of GDP in two dozen nations.

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