The world's No.1 heavy machinery maker is telling miners not to rest on their laurels now that the industry is finally coming back up from a brutal downturn and keep focused on maximizing returns and efficiency.
Coal Mining News
The world's number five diversified miner posted its first annual net profit in five years.
Up 7% year on year across all regions, supporting rally in iron ore and rebound in coking coal prices.
Net profit was $3.2bn for the six months to December 31, compared with a loss of $5.7bn in the same period a year earlier.
The totalitarian state is the number three supplier to China of the steelmaking raw material.
The economic noose is being tightened around North Korea's neck after the pariah regime ignored a United Nations resolution by testing a missile last week.
The Association for Mineral Exploration (AME) today announced that AME’s President & CEO, Gavin C. Dirom, will be leaving the association this spring to pursue other career opportunities.
The Australian coal industry has launched a new coal advertising campaign – Coal: Making the future possible – that highlights the important role coal will play in the world’s future energy mix while reducing emissions.
Report by the Mining Association of Canada (MAC) says the country is not in a good position to benefit from the increasing number of companies ready to make new and significant investments.
Coal miners are happy.
Restrictions would remain in place for six months, with some mines and areas possibly excluded.
Down 4.7% on Tuesday to five-month low as ultra-cheap Mongolian coal gets trucked into market.
The Anglo American's unit logged earnings of $607 million for 2016, basically double the $304 million it recorded in 2015.
The Australian government has opened the door to using a $5 billion fund designed to attract investment in northern Australia, to develop clean-coal projects.
Coal has washed up very close to the UNESCO World Heritage Site, Australian authorities said, following an investigation into complaints of black dust on nearby beaches.
While iron ore prices have climbed 90% in the last year to over $80 a tonne, the sale of Kumba would prove prudent for Anglo's long-term outlook, given its high debt load, BMI analysts say.
Shareholders will be the main beneficiaries of the company's cautious approach to capital expenditure in the last three years as it will pay bigger-than-expected divvy of $1.70 per share.
A coal company in west-central Alberta that in 2011 sold for $1-billion is bankrupt, killing hopes that its mine might re-open in the first quarter.
BHP Billiton says more help is needed from both governments and industry to promote the adoption of carbon capture and storage (CCS) technology.
Beijing will intensify its battle against choking air pollution this year and aims to cut coal use by 30 percent, state news agency Xinhua cited the mayor, Cai Qi, as saying.
Indian consortium plans to restart Benga mine in Mozambique bought from Rio Tinto for a fraction of Melbourne company's original purchase price.
The miner, Africa's largest iron ore producer, will pay R2.5 billion, considerably less than the original R6.5 billion it had been asked to cough up.
Higher commodity exports delivered a record trade surplus of $3.5 billion in December, the second monthly trade surplus Australia has recorded in nearly three years.
Coal consumption had been cut by 73% since 2006, Dong Energy said, and its power stations would replace the fossil fuel with sustainable biomass.
Coal generation in Europe is falling and will continue to do so due to competition from cleaner energy sources and governments efforts to cut emissions, a study by The Economist Intelligence Unit (EIU) shows.