Coal Mining News

South32 buys stake in Canada’s Arizona Mining for $81 million

The Perth-based miner has agreed to purchase 45 million shares of the Canadian junior at a price of $2.45 per share, or about 15% of Arizona Mining’s outstanding shares.

Australian officials slam banks decision to refuse backing country’s largest coal project

The lenders’ move follow a decision by Australia’s second-largest bank Westpac to only fund new projects in existing, rather than new, coal basins as part of its new climate policy.

BC Election: Major parties on future of mining

Question of whether government should be industry overseer or collaborator is at centre of resource platforms of Liberals, NDP and Greens

US thermal coal exports targeted by campaigning BC premier

Christy Clark has proposed a ban on the export of U.S. thermal coal from B.C. ports in retaliation for the recent imposition of a 20% duty on Canadian lumber.

BHP puts US shale assets back on the block amid investors pressure

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.

Caterpillar soars as first quarter sales jump for first time in over two years

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

Sandvik starts the year with better-than-expected profit

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

More iron ore comes to the market as Anglo’s output soars in Q1

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.

BMA investment to create hundreds of jobs

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.

Coking coal price correction turns into crash

–9% on Friday.

BHP top shareholders step up pressure for oil spinoff

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.

Post cyclone coking coal price plunge

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

Mining’s environmental accomplishments unknown to American voters

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.

Teck: no plans to reopen Quintette met coal mine

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

Climate change and risks to fossil fuel industry: sustainability train has left the station

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.

South32 drops $200 million plan to buy Peabody coal mine

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.

US Energy Secretary worried about coal

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

Coking coal price jumps to six-year high

Up another 5% on Thursday – stones throw away from all-time high.

Australia greenlights Rio Tinto’s $2.45bn sale of coal mines to Yancoal

With the Foreign Investment Review Board’s approval, Rio Tinto is a step closer to fully exit thermal coal.

Iron ore, copper price plunge brings carnage to mining stocks

Worries about Chinese economy and rising tension surrounding North Korea brings fear trade to mining and industrial metals.

BHP brands Elliott's overhaul proposals as flawed, costly

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.

BHP Billiton to escalate defence from Elliott with Goldman’s help

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.

Coking coal price soars past $300

Coking coal price has doubled in two weeks – storm damage to rail lines could affect Australian exports for another four weeks.

BHP rejects activist fund Elliott urge to spin off US oil assets

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.

Yancoal poised to become one of Australia’s top three coal producers

By the end of 2017, Yancoal Australia may become one of the top three coal producers in this country.