Coal Mining News

Oceanwide to increase its shareholding in CuDeco to 19.9%

CuDeco Limited (ASX:CDU) said today that FIRB has approved Oceanwide International Resources Investment Co. Limited to increase its shareholding in CuDeco to 19.9% through a further 15 million share subscription at A$3.80 per share. The raised funds will be utilised for CuDeco's flagship Rocklands Group Copper Project in Cloncurry in northwest Queensland. The Project is expected to commence commissioning in late 2012 or early 2013.

James River Coal says entered into second amended and restated revolving credit agreement

James River Coal Co said it entered into a second amended and restated its revolving credit agreement up to $100 million.

Rhino Resource Partners buys Elk Horn Coal for $120m

Rhino Resource Partners LP has acquired Elk Horn Coal Co., LLC for approximately $120 million in cash with no assumption of debt. Elk Horn is a coal leasing company located in eastern Kentucky with approximately 156,000 acres of owned mineral.

Wisconsin: The Canary in the Public Union Coal Mine

As you’ve combed through the pages of NRO for the past few months, you’ve probably wondered what’s so darn special about Wisconsin. You’ve said things like, “I’m from Kansas, and we’re home to the little girl who told Abe Lincoln to grow a

Coal Min ready to offload equity in Neyveli Lignite:Jaiswal

New Delhi, July 7 (PTI) Coal Ministry today said it is seeking approval for offloading 3.6 per cent equity in the state-owned Neyveli Lignite Corporation (NLC) to meet the 10 per cent public float guideline required for a Navratna company. "We are open

28 still trapped in coal mine in China

Twenty-eight miners were still trapped underground Thursday while 63 others were rescued after a fire broke out in a coal mine in China's Shandong province Wednesday night, Xinhua reported. A total of 91 people were trapped after an air compression device located in a parking lot 255 metres underground caught fire at 6.45 p.m. Wednesday, a provincial government spokesman said.

Burning Coal Indoors Linked to Birth Defects

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Centre urges Jharkhand to ensure speedy operationalisation of coal blocks

New Delhi, July 7 (ANI): Union Coal Minister Sriprakash Jaiswal has urged the Jharkhand Government to bring all its allocated coal blocks in operation as early as possible to ensure more availability of coal. During a meeting with Jharkhand Chief

Do ETF sales indicate commodity price crash?

A crash in commodity prices may not be inevitable, but many investors are clearly content with the profits over recent years and are adjusting their portfolios accordingly. Commodities have gone from being an afterthought for all but the most

Improvements on the Sena railroad in Mozambique to cost US$200 million [NEW]

The introduction of improvement to the Sena railroad would cost over US$200 million and take at least 18 months, the chairman of Mozambican port and rail company, Portos e Caminhos de Ferro de Moçambique, said Tuesday in Maputo. Brazilian mining group Vale and Australia’s Riversdale Mining have invested hundreds of millions of dollars in coal mining projects in Tete province and plan to use the Sena railroad to transport the coal to the port of Beira.

Ministers lock horns over mining rights

Coal minister Sriprakash Jaiswal is sticking to his guns in his ministrys conflict with environment minister Jairam Ramesh, demanding that mining be allowed in all areas not described as dense forest and not considered ecologically fragile. We are saying

Coal mine fire traps 36 in Shandong

GMT2011-07-07 08:55:24(Beijing Time) Xinhua English BEIJING - A coal mine fire that occurred Wednesday night left at least 36 people trapped underground in East China's Shandong province, according to State Administration of Work Safety (SAWS) early

Seoul wants fresh talks over Mongolia coal mine

Seoul called Thursday for talks with Ulan Bator after a consortium involving South Korean firms was left off a list of groups chosen to develop a huge Mongolian mine, saying the decision was "unclear and unfair". Out of six preferred bidders, Mongolia on

Mineworkers around the globe unite for higher wages

Unrest and strikes in Indonesia, Chile, Australia and Africa, a shortage of skilled workers in North America and rising labour costs all over the globe are quickly becoming the most serious downsides of a mining boom that started almost a decade ago. While a historically high overall jobless rate is masking spiking wages in the resources sector in the US, workers in emerging markets are shutting down operations of mining companies deemed not to be sharing record profits fairly.

Mongolia herder on mission to tackle mining firms

The destruction of Mongolia's grasslands to access a wealth of mineral riches has sparked an anti-mining movement led by a nomadic herder who says force can be used to bring polluting firms to heel. Tsetsegee Munkhbayar is the head of Fire Nation, a small group on a crusade to put an end to what they say are irresponsible mining operations in the resource-rich landlocked country that are threatening their livelihoods.

South African coal exports to India fall 21% in first half

India’s imports of coal from South Africa fell 21 percent in the first half of 2011 from a year earlier while Chinese purchases rose 18 percent, according to India Coal Market Watch, published by Kolkata-based online trading company mjunction Services.

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.