Walter Energy Inc.’s shareholders, who lost almost $2 billion in three months on management turmoil and disappointing earnings, may still be rewarded with a $4 billion windfall if the coal producer is acquired.
Coal Mining News
Leading mining wear parts major ESCO has announced the completion of its strategic acquisition of Hydra Mining Tools International.
South Africa's Environmental Affairs department on Wednesday defended granting Coal of Africa approval to resume construction at the controversial Vele opencast project near Mapungubwe, saying science, not emotion, was behind the decision. Mapungubwe is a World Heritage site and home of the golden rhino figurine (pictured) that dates back to around 1000 AD when Southern Africa's earliest kingdom flourished. Construction of the mine were halted in August last year when it was discovered the Australian company did not comply with aspects of environmental management laws.
The recent Chilean mine disaster has sparked new fresh debate in China regarding work safety and rescue work in the domestic mining industry. China has made huge steps to improve mine safety in recent years, reducing the number of deaths to approximately 2,600 in 2009 from 7,000 in 2003 even though coal output has more than doubled.
India's coal ministry has warned a group of six companies, including the local unit of the world's largest steel producer ArcelorMittal (MT.AE), to expedite work on developing a coal block jointly given to them, or face having the allocation cancelled.
Western Japan's electricity supply will fall 1.2 percent short of forecast peak demand for August, as five regional utilities' efforts to boost supply could not offset unplanned shutdowns this month of a nuclear reactor and a coal-fired plant, Japan's trade ministry said on Wednesday. Image of Fukushima Daiichi NPP in 2002 is from KEI.
South African coal miners started wage talks with unions and a mediator on Wednesday in a bid to prevent stoppages that could threaten supply to power plants and limit exports, while a fuel sector strike threatening the economy entered its tenth day. Africa's largest economy relies on coal for almost all its power, but state-owned utility Eskom has said it has enough coal in stock to last 41 days, so a strike would have to be lengthy to affect its operations.
Two miners have been found dead after part of an Arctic Russian coal mine collapsed on Saturday, steelmaker Severstal's Vorkutaugol said. MOSCOW, July 20 A third worker rescued from the Severnaya mine is in hospital in a stable condition, while the
Updated at 7:24 pm on 19 July 2011 A health and safety inspector for the Department of Labour says it is not possible to fully service all mines, tunnels and quarries in New Zealand because of a lack of staff. Michael Firmin was giving evidence on
Coal output increased at BHP Billiton (BLT) in the last quarter, but the mining giant's Australian business is still being affected by flooding. The company's output of steel-making or coking coal in the three months to June rose 19% to 7.9 million
Winning bidders selected to develop the western part of Tavan Tolgoi would be allowed exploit the field for 30 years, Batbold was quoted as saying in a major Mongolian news website on Wednesday.
Wage negotiations in the coal sector are set to begin on Wednesday, the National Union of Mineworkers (NUM) said. "The meeting will start at 10am today in Johannesburg. We are hopeful that perhaps today the employers will come with a more reasonable
BHP Billiton Ltd says it achieved production records in four commodities in 2010/11, with production of iron ore posting its 11th consecutive record. BHP said annual production of iron ore was 134.406 million tonnes (MT), up eight per cent on 2009/10.
Strong metal and oil stocks lift the TSX Composite Index Tuesday as the loonie rallies on expectations of eventual rate hike.
Chinese miner Huaibei Coal Group is planning an initial public offering (IPO) on the Shanghai Stock Exchange, according to a local press report. Shanghai Securities News said the flotation will be carried out to help finance CNY 8.50 billion (USD 1.40 billion) of new projects.
DAYARNE SMITH Muswellbrook Shire mayor Martin Rush has urged Anglo American to tell the community if it no longer plans to pursue the Drayton South project. The company’s Drayton mine is due to close in 2015, but the company has applied for state
Louisville Gas and Electric officials on Monday night tried to explain test results that at first found “significant amounts” of coal ash on three homes near its Cane Run power plant, only for it to be determined later that lesser amounts of ash were approaching the homes.
The price of importing South African coal has fallen to be nearly on par with Chinese domestic rates, but Chinese buyers are not biting and are asking for discounts of another $4 per tonne at least, trade sources said.
Coal exploration contract areas in Cebu, Surigao del Sur and Zamboanga del Norte are being frontloaded for investor bidding in September at the earliest, according to the Department of Energy (DOE). DOE Secretary Jose Rene Almendras on Tuesday said the
Prime Minister Julia Gillard is reassuring NSW coalminers her carbon tax will not stop their sons from following in their footsteps. Ms Gillard is spruiking her carbon price package in the NSW Hunter Valley today. Image is from MystifyMe Concert Photography (Troy).
Coal Services today announced a reduction of 2.78% to workers’ compensation premium rates for the New South Wales coal mining industry, with the target premium rate set at 3.5% (3.6% in 2010/11). This is the latest in a series of reductions that have seen premium rates fall from a high of 11.5% in 2002/03 to the current rate of 3.5%, equating to almost a 70% reduction over 8 years.
Hunnu Coal (ASX: HUN) announces that the Mineral Authority of Mongolia has granted a mining licence MV – 016872 for the Tsant Uul Project, covering total area of 69,233 ha.
Ikwezi Mining (ASX: IKW) has been admitted to the ASX after a successful IPO which offered 150 million shares at $0.20 to raise around A$30 million.
BIV reports: One of the province’s largest coal producers says it remains focused on its businesses in B.C., despite the fact that its CEO tendered his resignation three months after landing the job.
Department of Labour officials are expected to be grilled on changes to mining regulations as the Royal Commission of Inquiry into the Pike River disaster continues today.