Coal Mining News

SouthGobi receives mining license for Soumber deposit

SouthGobi Resources announced today that the Mineral Resource Authority of Mongolia (MRAM) has issued mining license MV-016869 to its wholly-owned Mongolian operating subsidiary SouthGobi Sands LLC. The new license pertains to the resource previously disclosed by the Company under NI 43-101 standards as the Soumber Deposit.

Stock Markets 101 for Mongolians ahead of coal mine IPO

A Reuters feature article on Wednesday tells how forced to sell his animals and flee his dried-up lands, former herder Sainbuyangiin Tsagaan-Ovgon is now hoping mining profits will let him return to his native Gobi. The 72-year old, who admits he knows nothing about stocks, will soon receive 536 shares in the Mongolian company that owns the world's largest coking coal deposit.

Coal of Africa secures key approval to restart Vele coking coal project

Perth-based coal miner Coal of Africa (LON:CZA) has secured a key environmental permit from the South African government, clearing a major hurdle on the way to restarting its Vele coking coal project. The approval will allow the company to proceed with construction work at the site following a year long delay due to environmental issues.

Coal of Africa shares jump on Vele go-ahead

Coal of Africa (LON:CZA) shares soared after it announced it has finally been awarded environmental authorisation by South African authorities for its key Vele coking project. The company can now move ahead with finishing construction of plant at the

Australian Mining: Mining needs to be safer, says leading mining professor

A leading mining professor says the future of Australian mining could be in jeopardy if companies don't get serious about their safety records, Australian Mining reported: Professor Peter Lilly, Executive Director of Minerals and Energy Strategy at Curtin University, told the Mining & Engineering WA conference that the unless the mining industry ensures it can have zero fatalities, mining will no longer be a possibility in Australia.

Mining leads as IPO activity in Western Australia continues recovery in FY11

IPO activity in Western Australia continued to increase post the global financial crisis (GFC), according to new figures released from the Deloitte Corporate Finance survey. Western Australia produced 63 IPOs in the year ending 30 June 2011 (FY11), almost double the 33 IPOs in the previous financial year.

GVK Power to raise $1.2 bn debt for Hancock coal assets

India's GVK Power, a unit of infrastructure major GVK Group, which had inked a deal to purchase two of Hancock Prospecting's thermal coal mines in Australia for around $2.4 billion, is set to raise $1.2 billion as debt to part fund its acquisition. The Hyderabad-based GVK Power has roped in ICICI Bank to syndicating the $1.2 billion loan. Sanjay Reddy, vice chairman of GVK, signed an agreement with Gina Rinehart, chairman of Hancock, earlier in June.

Coal ramp-up could give Vale extra $8bn revenues

Coal could be a driver of growth for Brazilian mining giant Vale as it increases production of the key steel ingredient by as much as 35 million metric tonnes over the next ten years, Citigroup analysts said in a report on Tuesday.

Supply threat hits Griffin Coal's $1.2bn power sale

Griffin Coal administrators have confirmed that the $1.2 billion sale of its power business, which was due for completion in May, has been derailed by the new owner of Griffin Coal, which has threatened to withhold supply for Griffin Power's coal-fired plant.

Burning coal indoors linked to birth defects

By Eric Schultz NEW YORK (Reuters Health) - Parents who inhale coal smoke at home may put their babies at increased risk of birth defects, Chinese researchers say. Zhiwen Li and colleagues at the Peking University Health Science Center in Beijing found

Carbon capture and storage: still not an option

Eliminating carbon from power plant emissions is cost-prohibitive and environmentally counterproductive Jeffrey H. Michel Editor’s note: This is an important update on our previous assessment [1] Carbon Capture and Storage A False Solution (SiS 39) A

China Hit by Two Coal Mine Disasters

Heavy flooding in China has led to two separate coal mine accidents, which killed three people and trapped more than 40 on Saturday. In the first accident, heavy rains caused part of a coal mine in Guangxi Zhuang Autonomous Region to cave in, killing

India mineral output slumps 14.5% in April

The Economic Times reports Indian mineral production declined 14.52 percent in April compared to the preceding month due to sharp drop in the output of coal, bauxite and copper, official data showed Monday. Coal production slumped 32.81 percent at 407 lakh tonnes and production of bauxite fell 18.23 percent at 1,041 thousand tonnes in the reporting month, according to data released by the ministry of mines.

US study says sulfur from China's coal-burning caused slight pause in global warming

Scientists have come up with a possible explanation for why the rise in Earth's temperature paused for a bit during the 2000s, one of the hottest decades on record. The answer seems counterintuitive. It's all that sulfur pollution in the air from China's massive coal-burning, according to a new study.

Vale increases coal production at Mozambique mine

Vale has increased its initial coal production target at the Moatize mine in Mozambique by 76% and is planning to quadruple that result in 2012. Vale sales manager Marcelo Matos said Moatize mine is expected to produce 1.5Mt of coal in 2011.

China's imminent collision with peak coal

World coal production is dominated by China. China's coal production is projected to peak in 2027 with a peak production level of 5.1 billion tons. World (excluding China)'s coal production is projected to peak in 2027 with a peak production level of 4.1 billion tons.

China approves penalties on those responsible for coal mine accident

The State Council, China's Cabinet, has approved the arrest of two senior executives responsible for a gas leak that killed 37 people in Yuzhou of central Henan Province in October 2010.

Peabody, China and Russia teams chosen for massive Mongolian coking coal mine

Mongolia chose U.S. miner Peabody Energy , a venture between China's Shenhua and Japan's Mitsui & Co, and a Russian-led consortium as preliminary winners to jointly develop the prized Tavan Tolgoi coal deposit, a senior government source said on Monday. The project, which may require initial investment of more than $7 billion, is seen as vital to kick-start the land-locked nation's economy. It will also generate billions of dollars in revenue for the companies involved and add tens of millions of tonnes of increasingly rare coking coal used by steel makers.

Rescuers rush to reach 42 trapped in Chinese mines

A buildup of volatile gas hampered rescue efforts in one Chinese coal mine and water continued to pour into another as emergency crews raced to reach 42 people trapped yesterday for a second day, officials and state media reports said. The accidents — a cave-in at one mine and a flood at the other — occurred on Saturday in two southern provinces after days of heavy rains.

No power to close Cebu coal plant

(Source: Sun Star Daily) Entertainment THE bank that financed the controversial coal-fired power plant in Naga City, Cebu said it has no power to padlock the facility if owners fail to conform with environmental and safety considerations. Bruce Purdue,

MMTC drops proposal to buy overseas coal mines

New Delhi : In a major consolidation exercise, state-owned trader MMTC Ltd has dropped plans of buying overseas coal mines, commercial farming in Africa and generating electricity locally. The company would instead concentrate on its core businesses such

Ms Bligh seeks to build on exemptions for coal seam sector

It is reported that Queensland is attempting to quarantine its boom coal-seam gas industry from the Gillard government's carbon tax after successfully gaining an exemption from the mineral resources rent tax. The Bligh government is arguing for further

China top power firms keep racking up loss on thermal power – CEC

Reuters quoted the China Electricity Council said China top five major state-owned power generating groups continued to rack up losses on their thermal power business in May despite the government raising power prices in April. The council said mainly

Australia climate change economist strikes out at coal claims

It is reported that Ms Gillard government climate change adviser Mr Ross Garnaut has defended his attack on the coal sector aggressive opposition to a carbon tax, calling research by the industry to fight the policy as professionally wrong. Professor

Continental Coal snares improved bank funding terms for Penumbra Mine development

Continental Coal has received a further offer of financing that could potentially allow the development of the Penumbra Mine to be completed in a more capital efficient manner. The new offer of finance offering more attractive terms for the company has