AUSTRALIAN miner Cockatoo Coal has put its Taabinga thermal coal project in Queensland up for sale, an informed source said today, in the latest sign that deal-flow in the coal sector is accelerating. Sydney-based Cockatoo - one of a handful of listed Australian companies with producing coal mines - has appointed advisory firm RFC Corporate Finance to handle the sale of the Taabinga project, which has an estimated 252 million tonnes of undeveloped coal resources.
Coal Mining News
Three miners died after a coal mine collapsed on Tuesday in northwest Shaanxi Province, according to the mine's operator. The accident occurred at 11:10 a.m. in the mine operated by Shaanxi Pubai Baishui Coal Mine Co. in Baishui.
Newly listed International Coal ( ASX: ICX ) has wasted no time with $7.7 million in hand to set its sights on an aggressive exploration program on its Queensland coal tenements.
Envirogen Technologies, Inc. (Envirogen) said it has entered the market for treatment of selenium-containing coal mining wastewaters with a portfolio of treatment solutions, highlighted by the company’s fluidized bed reactor (FBR) biological treatment systems and augmented, where appropriate, with its High Efficiency Ion Exchange technology.
Asian demand for Hunter coal should shield the region from a global financial crisis that is threatening Europe and the US.Chinese banking officials visited Perth last month and declared the country had $US1 trillion to invest in global resources
A coal mine mechanic has died from an accident at an underground mine in eastern Ohio. American Energy Corporation says the worker was fatally injured while working alone early Monday at the Century Mine in Beallsville.
Fascinating new data from the U.S. Department of Energy’s Energy Information Administration: The share of electricity generated by coal during the first three months of this year was at its lowest first-quarter level in more than 30 years. The U.S.
Brazilian mining titan Vale SA (VALE) said Tuesday the first coal train arrived Monday at the Mozambican port of Beira. The first train carried 2,200 metric tons of coal from Vale's Moatize coal mine in the northwest province of Tete.
SinoCoking Coal and Coke Chemical Industries, Inc. announces Hongchang and Xingsheng coal mines cleared for resumption of operations
SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) (the "Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today announced that Hongchang and Xingsheng coal mines have been cleared to resume operations at full capacity. The Hongchang mine has been operated by Baofeng Hongchang Coal Co., Ltd., a subsidiary of Henan Pingdingshan Hongli Coal & Coke Co., Ltd. ("Hongli"), which the Company controls through contractual arrangements. Baofeng Xingsheng Coal Mining Co., Ltd. ("Xingsheng"), of which 60% equity interest is now registered to Hongli, has been operating the Xingsheng mine.
Electric utilities have announced the closure of dozens of coal-fired power plants, totaling thousands of megawatts (MW) of capacity in response to two recent power-plant emissions regulations from the U.S. Environmental Protection Agency (EPA) (Washington, D.C.)
Coal India is planning to invest about INR280bn ($6.2bn) in 68 coal mining projects in India, which have a production capacity of 230 million tonnes per annum.
Environment Canada predicts that emissions from oil sands production, without government intervention, is going to increase by 18% over the next decade. Canada Emissions Trends, a report on greenhouse gas emissions and how various sectors of Canada's economy are faring, was released quietly last month. In December 2009 Canada signed the Copenhagen Accord committing Canada to reducing its greenhouse emissions to 607 Megatonnes in 2020, or 17 per cent below 2005 levels. The report says that Canada’s total GHG emissions were 731 Mt in 2005, representing about two per cent of overall global GHG emissions.
Wall Street Journal reported that approval is still pending for Coal India’s (BOM:533278) planned acquisition of coal assets outside the country.
The potential joint bid by Rio Tinto and Mitsubishi Development for Coal & Allied Industries (CAIL) is a curious beast because it proposes to involve a mechanism normally used to avoid a takeover.
Rio Tinto and Mitsubishi are being pressured to offer a special dividend to seal a $1.49 billion attempt to mop up the shares of 150-year-old Hunter Valley miner Coal & Allied that they don't already own. The pair, which already have a combined 85.91 per cent stake in the target, made an indicative offer of $122 a share to Coal & Allied's independent directors on the weekend.
South African focused thermal coal mining producer Continental Coal Limited (ASX: CCC) confirmed an initial JORC compliant saleable coal reserve of approx. 44 Mt for the De Wittekrans Coal Project.
spur-ventures.jpg Intierra Resource Intelligence has released updated figures on foreign mining investment levels in China. The Intierra mining database identified that more than 60 companies with primary listings outside of China and Hong Kong have a direct market interest in quoted mineral resources in China. Foreign investments make up approximately $175 billion worth of total Chinese resources [...]
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.
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.