Wales Online reports mining at the historic Tower Colliery in Wales could begin again as soon as Christmas after a £30m scheme to regenerate the site was given the green light by councillors of the nearby town of Rhondda Cynon Taf earlier in the week. Tower Colliery was the oldest continuously worked pit coal mine in the United Kingdom at the time of its closure by British Coal in 1994 with a history dating back to at least 1805. It was bought out by the laid off miners and re-opened the next year before finally shutting down in 2008.
Coal Mining News
Arch Coal Inc.'s (ACI: News ) second-quarter net income plummeted to $11.1 million or $0.06 per share from $66.2 million or $0.41 per share a year earlier. Excluding charges, adjusted net income for the second quarter of 2011 was $78 million, or $0.44 per share, the company said. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $0.60 for the quarter.
Anglo American, one of the world's largest miners, today reported strong first half growth with operating profit ahead 40% to $6bn. Chief Executive Cynthia Carroll said that investments made during the downturn would stand them in good stead in the near-term future. "We believe that the fundamentals for the mining industry are very, very strong, and therefore the longer-term outlook is extremely positive." Image by shizhao
Sixteen miners died and another 10 were missing after a nighttime explosion in a coal mine in the Lugansk region in eastern Ukraine, the emergencies ministry said on Friday. As a result of the early Friday accident, two more workers received burn injuries and were hospitalized, the ministry said in a statement.
Xstrata, the world's largest exporter of thermal coal, has agreed to acquire Canadian coal company First Coal for US$153 million, the Swiss miner said on Thursday.
Last week I sat down with Laura Mandaro from Marketwatch to discuss what’s currently driving commodity markets. One of the key drivers today is the robust economic activity and commodity demand taking place in Asia.
FLSmidth has been awarded a contract worth approximately EUR 25m (approximately DKK 180m) by Jhabua Power Ltd. for the supply and installation of the first phase of a 1,800 tons per hour coal handling plant for their upcoming power plant project at Jhabua in the state of Madhya Pradesh in central India
Diversified miner Teck Resources doubled its quarterly profit on higher copper and coal prices, the company announced on Thursday. Teck said it brought in $756 million in profits in the second quarter of 2011, a 90 percent increase from the same period in 2010, or $1.12 a share compared to 59 cents per share in Q2 2010. President and CEO Don Lindsay attributed the doubling of profits to higher prices for coal and copper — the company's chief commodities — along with a US$2 billion rights offering in July that cashed up the company to the tune of $3.4 billion. Photo of Teck's Elkview operation in southeastern British Columbia, by Teck Resources Limited.
Federal regulators say they issued citations for safety violations at 12 coal mines in June.
The Australian carbon tax proposal, revealed earlier this month, was meant to make the country one of the world’s climate change leaders. Unfortunately it fails to provide a meaningful strategy for mitigating Australia’s greenhouse gas emissions as it specifically precludes additional funding for CCS.
China Briefing News reports state-owned Shenhua, the leader of a joint Chinese, Mongolian, Russian, and US consortium awarded the western block of Mongolia's Tavan Tolgoi coking coal field – the world's largest – faces a rocky road ahead to bring the project to fruition. According to CBN the political structuring is typical but none of the three operators have given public explanations as to how they may proceed or even work together. While losing bidders from Brazil, India and South Korea are smarting, Japan have gone so far as to call the bidding process'extremely regrettable'. And all this while Mongolia hopes to raise as much as $5 billion privatizing Tavan Tolgoi early next year.
No sooner had that release come out, than a West Virginia miner was electrocuted last night down in McDowell County. And in fact, at the time that U.S. Mine Safety and Health Administration issued its news release, there had already been two more coal-mining deaths, pushing this year’s total to 11.
One of the largest metallurgical coal deposits on earth could soon be producing coal for export, thanks to London, Ontario-based Fortune Minerals Limited (TSX-FT). Fortune recently signed a joint venture agreement with POSCO, the third largest steelmaker, whereby POSCO will pay 20% of the capital costs in developing Fortune's Mount Klappan anthracite coal deposit, located in northwest British Columbia, Canada
The Huntington News reports Thursday two protesters associated with the portentous Radical Action for Mountain People's Survival Campaign, continue to occupy trees within the Bee Tree surface mine's blasting zone, where they have stopped mining for eight days. The Bee Tree mine is situated on the aptly named Coal River Mountain in West Virginia and is owned by Alpha Resources, the company that bought the original owners of the mine, Massey Energy which last year was responsible for the worst US mine disaster in 40-years after keeping fraudulent safety records.
Consol Energy reports fifth consecutive quarter of record coal revenue; US thermal coal sold out due to hot weather
CONSOL Energy, a diversifed fuel producer in the Eastern United States, reported adjusted net income of $174 million or 76 cents per diluted share, in the quarter ended June 30, 2011, an increase of 69% from the adjusted net income of $103 million for the quarter ended June 30, 2010. The financial results were aided largely by the coal division, which posted record revenue of $1.212 billion. This was the fifth consecutive quarter of record revenue for the coal division.
Swan Hills Synfuels secures $285 million grant from Province of Alberta to build carbon capture and storage project
The Province of Alberta and Swan Hills Synfuels are advancing a clean gas for clean power project that will dramatically reduce emissions by capturing and sequestering over 1.3 million tonnes per year of CO2. The province has executed a letter of intent with Swan Hills Synfuels to provide a $285 million grant in support of this carbon capture and storage project.
ATHENS (AFP) - Cash-strapped Greece could save billions of euros in environmental and health costs by abandoning a reliance on coal-fired electricity production, Greenpeace activists said on Thursday. "At a time when Greek citizens are making
ASX-listed Cougar Energy on Thursday said that it would seek a review of the Queensland government’s decision to restrict the company’s activities at the Kingaroy underground coal gasification trial site.
Councillors voted in favour of the project to turn Tower into a huge opencast mine and excavate around six million tonnes of coal. The scheme, which will create up to 200 full-time jobs, will also restore former industrial spoil tips, old pits and iron
Junior Universal Coal, which is listed in Australia, has taken a up a 40% stake in the Berenice project in South Africa’s Limpopo, after completing the first phase of drilling at the coking coal project.
Major miner Xstrata is making an agreed $153 million bid for Canada's First Coal Corporation which owns coking coal exploration leases in British Columbia Miner Xstrata has made an all-cash bid for privately held Canadian miner First Coal Corporation, it
Coal India, which is keen to acquire coal mines abroad, has finished its initial negotiations with Indonesia's Golden Energy Mines and is awaiting the Indian government's nod for a $1 billion buy. The world's largest coal miner, Coal India, is seeking
Universal Coal (ASX: UNV) has moved to a direct 40% ownership of the Berenice Coking Coal Project and the Somerville project in South Africa, post the completion of the first phase of drilling and the updated resource estimate - which was completed by GEMECS. The significance of the ownership for Universal Coal is that Berenice hosts a coking coal JORC Resource of over one billion tonnes, with 218 million tonnes Indicated and 840 million tonnes Inferred.
A mining company has abandoned plans for brown coal exploration in south-west Victoria because of community opposition.
Joy Mining Machinery has released its new 12ED25 mid-seam simultaneous cut and bolt entry driver, with the first unit shipped to a mine in the western US. The mine will use the new machine to develop its longwall gate access roads.