The closures and the dearth of new builds are as much a function of new environmental impact laws as it is of the US gas boom, which has sent natural gas prices to decade lows.
BULK COMMODITIES Mining News
In China these days, if you’re a daughter in one of the country’s growing numbers of well-off coal mining families, a big part of life involves managing the risks you bear in getting your clan in a heap of trouble owing the country’s huge rich-poor divide.
A Credit Suisse research note recommends Agrium, Mosaic and Potash Corp, but is "growing skeptical over whether potash prices can regain the momentum seen last year."
Carbon Friendly Solutions Inc. (CNSX: CFQ) announced the company, through its wholly-owned subsidiary Microcoal International Inc. (“MCI”), has signed a Memorandum of Understanding (“MOU”) with Hebei Iron and Steel Group Limited (“HBIS”), a major iron and steel producer in China, setting out the terms for a detailed project design package to be developed for a large scale industrial facility.
"Shenhua is the most competitive bidder for the project given its technology, transport infrastructure, access to the Chinese market and the backing of the Chinese government," Shenhua CEO Ling Wen told reporters.
Intrepid Potash (NYSE:IPI) was up 2% today on news that its solution mining project near Carlsbad, New Mexico has been approved by the US Bureau of Land Management (BLM).
Goldsource Mines shot up 28% today on news that it has increased indicated coal resources at its Border Coal Project by 48%.
Metso has signed a major service contract with Northland Resources AB, consisting of a six-year service, maintenance and inspection program for the Kaunisvaara iron ore processing plant, located in northern Sweden. The contract complements previous equipment and mill lining services order, announced in 2011. The total value of the order is EUR 73 million, including the previously signed contract worth EUR 19 million.
A legal clash between Brazilian mining giant Vale (NYX:VALE) and Australia's Aquila Resources (ASX: AQA) has taken a step towards resolution this morning after the companies announced they’ve reached an agreement on coal shipments from their co-owned Isaac Plains mine in Queensland.
Mining has all the elements that make for a good movie: long odds, adventure, conflict, danger, amazing natural scenery, and heroes and villains.
Verde Potash Plc (TSX-V: NPK) ("Verde" or the "Company") is pleased to announce that it has completed its previously announced bought deal offering of ordinary shares (the "Shares") at a price of $6.45 per Share.
India is hoping to bury the hatchet with its historical rival Pakistan, at least enough for both sides to benefit from a massive iron ore deposit in Afghanistan.
Coal Rush, a documentary running next week at the Atlanta Film Festival, tells the story of a 7-year crusade by US attorney Kevin Thompson, along with other attorneys, advocates and affected residents, to halt the injection of coal slurry into the Appalachian mountains by now-defunct coal miner Massey Energy.
EU regulators are stepping up scrutiny of the mooted $90 billion merger of the commodities trader and coal giant and the whole vetting process could take until early 2013. That is if the deal goes ahead at all.
The Tata Group, India's largest conglomerate, is said to be investigating a joint venture with South African coal producer Increase Coal.
The Herald Sun has an interesting feature piece on Chinalco Yunnan Copper Resources, an Australian company with Chinese backing that is partnering with Rio Tinto on three early-stage exploration projects in Chile.
None of mining's top companies escaped the carnage on Thursday after a survey of manufacturing in China showed activity slowed for a fifth straight month.
Beijing launched the new spot price platform in January in a bid to shift the balance of power in price negotiations away from the big three.
Krishnapatnam Port has set an all India record for discharging 95,528 tons of steam coal in just 24 hrs using the conventional unloading system in form of advanced Mobile Harbor cranes. Read more
Cavico Corp. (Nasdaq:CAVO) a major infrastructure construction, infrastructure investment, and natural resources conglomerate based in Vietnam, announce that Prime Minster Nguyen Tan Dung has approved its proposal for a project to construct a vertical coal mine shaft in Vietnam. Read more
International mining equipment manufacturer Bucyrus reports that its latest development, the 35M continuous miner, has attracted a lot of attention from South African colliery operators constantly on the lookout for machines that mine coal more cost effectively and efficiently. Read more
Ausenco has been awarded a $7million contract to deliver the detailed engineering for a 401 km iron ore pipeline for Samarco Mineração S. A. The iron concentrate slurry pipeline is part of Samarco’s expansion and will be the third pipeline for the project. It will link the Germano mine in Mariana, Brazil to the industrial complex at Ubú, Brazil and will have a nominal capacity of 20 Mt/y. Read more
United Pipeline Systems, a division of Insituform Technologies, has been awarded an additional $10.5 million for the supply and installation of its Tite Liner® HDPE solution in pipelines at the Sino Iron Ore project in Western Australia. This contract expands the $10.9 millionproject for themine previously announced in January 2010. Read more
IsaMillsTM have been established for over 15 years in base metal grinding circuits, transforming the operations with their energy efficient grinding action. The technology is now being adopted by the iron ore industry, with the first IsaMillTM being planned for commissioning in early 2011 at Xstrata Copper's Ernest Henry Mine's magnetite project in Queensland. Read more
ABB, the leading power and automation technology group, recently won an order worth over $10 million from Dannemora Minerals to deliver a complete mine hoist to the newly reopened Dannemora iron ore mine in east central Sweden.