The Times Colonist has a look at the history of coal mining on Vancouver Island starting in 1912 and writing that the troubles started in Extension, a small mining community a few kilometres south of Nanaimo. Two coal miners were fired when they complained to management that unacceptable levels of explosive gas existed at the coal face. One of the workers headed north seeking a job in the mines of Cumberland only to find he had been blacklisted - not just in Cumberland but throughout Vancouver Island. Their memories of a seemingly endless stream of disasters, from single deaths to the 150 dead in the Nanaimo No.1 mine explosion and fire in 1887, kept them implacable in their demands for greater safety.
Coal Mining News
Dow Jones reports resource nationalism is the top business risk for the top 30 global miners, while supply capacity constraints ranging from skills shortage to infrastructure bottlenecks continue to dominate the top ten list, according to an annual survey by consultants Ernst & Young. Resource nationalism jumped to the top of the list this year from fourth in 2010 after 25 countries announced their intentions to increase their take of the mining industry's profits and others contemplate outright nationalization. Fraud, bribery and corruption sneaked onto the list of top concerns for the first time as a number of countries introduce or tighten rules for executives operating in countries that rank high on corruption indices.
When a Seattle-based shipping company announced plans last year for a deepwater cargo port that it promised would create hundreds of jobs, it looked like good news. This waterfront community of 75,000 just south of the Canadian border had suffered the loss of its primary industry when a large paper mill began closing down in 2001. Then a nationwide housing and construction boom ended in 2007 when the market tanked. But the proposed Gateway Pacific terminal near Bellingham has opened up a larger debate about U.S. competitiveness in a changing global economy.
Australia has evinced keen interest to invest around Rs 9,000 crore in the mining sector in Orissa and set up mineral-based units in the state. "We have proposal for investment of two billion dollars (around Rs 9,000 crore) in the mining sector in Orissa which is endowed with rich natural resources," Australian High Commissioner to India Peter Varghese said here on Sunday.
Environmental campaigners are still waiting to be evicted from a site near an opencast mine in Shropshire, a month after an eviction notice was served. UK Coal applied to mine New Works near the Wrekin area of outstanding natural beauty in Telford over 32 months. Some residents objected but permission was granted by a planning inspector in October 2009 after a public inquiry. Protesters set up illegal camps on the site in March 2010. UK Coal's eviction notice gave them until 5 July to leave.
North American Stainless has announced that it will maintain the fuel surcharge at 35% for stainless flat and long products shipping in the month of August 2011.
Peabody Energy and Ameren Corporation have entered into an agreement to provide 91 million tons of low sulfur coal to serve multiple electricity generating plants in Missouri through 2017. Peabody will source multiple products from its Powder River Basin.
Former Australian of the Year and Aboriginal leader, Galarrwuy Yunupingu, has called on his people to stop accepting welfare handouts, saying that it's killing them. Mr Yunupingu was speaking at this year's Garma Festival, held on a remote region of Yolngu land on the edge of the Gulf of Carpentaria in the Northern Territory. Addressing the audience, including Rio Tinto executives and Fortescue Metals chairman Aandrew Forrest, Mr Yunupingu said the Yolngu society doesn't need welfare, but appropriate education.
South Africa's Richards Bay Coal Terminal (RBCT) exported 4.36 million tonnes of coal in July compared with 4.78 million tonnes the previous month, RBCT data showed on Thursday. This compares with 5.94 million shipped during the same month last year.
State-run NTPC Ltd, India's largest power utility, is considering a 25-year coal import deal, its chairman said on Friday. The company will also invite bids in the next few days for 4 million tonne coal import, and is aiming to expand its local coal coal mines portfolio.
Following the 53-hole first phase drilling program completion by Delta Mining Consolidated Ltd (DMC) on its 3,445 hectare Southern block of the 9,548 hectare Limpopo Coal Project, an indicated coal resource of 136 million gross tons in situ has been announced.
Mining and energy firms have swooped to buy more than 390,000ha across Queensland Australia despite almost unanimous opposition to the sell-off of prime farming land. In the Surat Basin west of Brisbane, small farming communities have been decimated as the race for mining riches forces families off properties after decades of working the land. Fears over the impact of the mining squeeze on communities prompted angry locals to rally at Oakey, while an inquiry has been announced by the New South Wales Parliament into the environmental impacts of the coal seam gas industry.
QMASTOR has been awarded a major contract with Canada's largest export coal terminal. In a major coup for the company, Westshore Terminals (Westshore) has selected QMASTOR to implement QMASTOR‟s Port Suite of products including PortVu, iFuse and QMetrics.
The Navajo Nation's allegations that a coal mining company conspired with others to cheat the tribe out of as much as $600 million in royalties was settled in federal court on Thursday. The tribe sued what is now Peabody Energy in 1999. The terms of the agreement are confidential. The US Supreme Court ruled against the Navajo in a similar lawsuit filed against the federal government. Peabody has operated through a business partnership with the Navajo Nation and the Hopi Tribe for more than 40 years in Northeastern Arizona.
Hazel Henderson writes for Reuters, after the first year of the Dodd-Frank reform in the USA, the too-big-to-fail financial bubble still looms. Missed by Frank-Dodd are the obsolete fossilized asset allocation models and Rigged Carbon Markets. An explosive new report from Carbon Tracker shows how these errors in asset valuation have saddled stocks and sovereign bonds with unrealistically over-valued fossil fuel reserves. These coal, oil and gas deposits carried on company and government books as "assets" may actually prove unmarketable and worthless!
The recent passing of a carbon capture and storage (CCS) technology bill by the Bundestag (German Parliament) should be seen as a small victory in the battle to make CCS technology and ‘clean coal’ a reality. However, numerous political and economic barriers continue to persist, around the commercialization of CCS and raise the question as to whether CCS and clean coal are a pipe dream rather than an end-of-pipe solution.
Peabody Energy Corp. is leaving the door open for a rival bidder to step in for Macarthur Coal Ltd. by offering less for the Australian mining company than it did last year, even as profit is projected to double.
Regal Resources, via its 50% owned entity UCTL Pty, has retained Stanford University in California, one of the world’s leading research universities, to conduct Phase Two Proof of Concept Testing of its UCTL technology.
Rio Tinto reported a surge in profits due to strong demand in Asia and higher metals prices on Thursday but shares in the company spiked lower in New York, opening down more than 7% and wiping more than $10 billion off the value of the globe's second largest miner. Net earnings for the first half year were $7.6bn, up 30% on the $5.8bn the firm made a year earlier. Commenting on the results chairman Jan du Plessis said the economic environment remains volatile but expected the Australia-based company continue to experience higher than average growth for the rest of the year. The company also said it was experiencing high cost inflation in some "mining hotspots" and cautioned that the strong Australian and Canadian dollar were impacting its profitability.
A new coal terminal proposed for Gladstone port's Wiggins Island in Queensland has met with delays for the third time this year, as the project's 16 coal company shareholders including Cockatoo Coal, Yancoal and Xstrata have still to raise all of the capital for the project. Costs for the first stage of the Wiggins Island coal terminal have escalated to A$3.7 billion ($3.9 billion) from A$2 billion in October 2010, a spokesman for the coal industry consortium that is backing the terminal said Wednesday.
One protesters associated with the Radical Action for Mountain People's Survival Campaign has been arrested after climbing down from a tree platform he has been occupying at Coal River Mountain West Virginia since July 20. Becks Kolins (pictured on the left) was arrested by state police. Kolins and Catherine-Ann MacDougal climbed the trees to protest operations at the Bee Tree surface mine owned by Alpha Natural Resources, the company that bought Massey Energy following a deadly blast at one of its coal mines. McDougal says she's staying put.
Coal producer Cloud Peak Energy on Tuesday reported net income for the second quarter of $94.6 million or $1.56 per share, rising from $15.9 million or $0.51 per share in the year-ago quarter. Revenues for the quarter grew to $387.7 million from $341.6 million in the year-ago quarter. Cloud Peak expects production from the three company-operated mines for 2011 at 93 million to 96 million tons.
An environmental group filing a court challenge over the approval of a coal-fired power plant in northern Alberta says the provincial regulator deliberately rushed the go-ahead to help the company avoid new federal rules on carbon emissions.
Yanzhou Coal Mining Co. China's fourth-largest coal producer, yesterday acquired two Australian coal producers, Syntech Holdings Pty Ltd and Syntech Holdings II Pty Ltd, for A$202.5 million in cash.
Asking whether South Africa should nationalise its mining industry was the wrong, dangerous question to ask in searching for the answer to South Africa’s “evil triplets” of poverty, inequality and unemployment, said Mineral Resources Minister Susan Shabangu.