According to a detailed report in the U.K.'s Sunday times newspaper, Global mega commodities group, Glencore, which recently listed in the London stock Exchange's largest ever IPO, is considering a what appears to be a £12 billion (US$20 billion) friendly takeover of European-based diversified mining and metals company, ENRC (Eurasian Natural Resources Corporation). If such a move takes place this would convert Glencore from the world's largest commodities trading group into one of the globe's biggest integrated mining and metals companies - even without taking into account its 35% stake in Xstrata.
Coal Mining News
Mongolian massive coal mine projects related to Tavan Tolgoi are underway presently, Mongolian Prime Minister Sukhbaatar Batbold on June 12 said. The Mongolia government has already started some work on the development of railway lines linked to the
According to Vietnam's general statistics office, Vietnamese coal exports totaled 6.64 million mt in the January-May period of the current year. down 25 percent year on year. In addition, the value of the country's coal […]
China exports for coke and semi-coke in May this year decreased 3.7% on year to 450,000 tonnes, showed the latest data released by the General Administration of Customs. In the first five months, the volume exported from the country totaled 2.13 million
South Africa's National Union of mineworkers has started negotiations with the Chamber of Mines over its 14% wage demand for gold and coal miner union members.
THE Gillard government's credibility is about to take another battering, this time on one of its more complex and ad hoc tax reforms, the minerals and resources rent tax, as some key players in the […]
Indian conglomerate Essar Groupplans to acquire more coal and iron ore assets in Indonesia,Australia and Africa as it seeks to meet robust demand in India, Bloomberg reported …
WPG Resources and Evergreen Energy have signed the agreements that set up the joint venture between them to develop and produce K-Fuel®, Evergreen’s coal upgrading technology, throughout Australia. WPG’s subsidiary, Southern Coal Holdings, will be […]
Tightness in the Chinese power market could mean lower output of aluminum and nickel pig-iron, plus deceleration in steel production and a probable increase in thermal-coal imports, says Deutsche Bank. More than 10 provinces started […]
Okay, so we’ve established the hazards of coal ash. There is no doubt that arsenic, cadmium, hexavalent chromium, lead, selenium and other toxic metals have no business in our drinking water. So why are 44 of our elected leaders calling on the Obama administration to treat coal ash as a NON-hazardous waste?
Goldman Sachs is to launch a commodities index with Clive Capital, the world's largest commodity hedge fund, the Financial Times reported on Monday citing a source familiar with the product.
Coal stockpiled at the main power plants in East China's coastal province of Jiangsu stood at a high level presently, providing a sound basis for power supply, Xinhua Daily reported, citing local authorities. The stocks of the fuel at these power plants kept at a reasonable level of over 5.7 million tonnes, which was sufficient for use of above 15 days, better than that in other provinces, the Jiangsu Provincial Economy and Information Commission was cited as said.
A strike of about 7,000 workers over jobs cuts at miner Exxaro due to start on Monday has been postponed, South Africa's National Union of Mineworkers said in a statement on Sunday. Exxaro, which mines […]
Sindh government has allocated Rs3.71billion for coal and energy projects in provincial budget for 2011-12 under the Annual Development Program. Sindh Finance Minister Murad Ali Shah, while presenting the Sindh budget 2011-12 on Friday, said […]
This week’s activity has been far from one sided as markets are fluctuating in both directions with no clear direction. Weakness in equities, a rising dollar, a slowdown in China or a production increase in […]
The recent pullback of the market has created some value opportunities. Out of all the healthy sectors in the global economy, the leading mining companies are some of the best bargains on the market. With […]
A week long protest calling for the preservation of West Virginia's Blair Mountain has rehashed conflicts within a coal mining community torn between the need for profits and the desire to preserve the past.
Last month, Union Pacific Railroad loaded 876 coal trains in the Southern Powder River Basin (SPRB) compared with 896 trains in May 2010. The Class I loaded 92 percent of National Coal Transportation Association (NCTA) demand […]
Germany will need more coal plants if it is to phase out nuclear power, Chancellor Angela Merkel said. "If we want to quickly get out of nuclear power and into renewable energy, we need fossil-fuel power plants.
As the dire news continues to leach out of Fukishima, the silver lining in its nuclear cloud is that renewable energy technologies, despite their daunting start-up costs, are receiving renewed scrutiny.
China showed robust demand for crude oil and coal in May, shrugging off higher prices to boost imports by more than 20 percent, but its appetite for overseas copper supplies remained sickly and iron ore […]
Westmoreland Coal Company (NasdaqGM: WLB) announced today that its Board of Directors has declared a dividend of $0.53125 per depositary share payable on July 1, 2011 to holders of record as of June 20, 2011. Each depositary share represents one-quarter of a share of the company’s Series A Convertible Exchangeable Preferred Stock. Westmoreland Coal Company is the oldest independent coal company in the United States. The company’s coal operations include coal mining in the Powder River Basin in Montana and lignite mining operations in Montana, North Dakota and Texas. Its power operations include ownership of the two-unit ROVA coal-fired power plant in North Carolina. For more information, visit www.westmoreland.com.
Canadian Mining Journal reports: Vancouver-based Cardero Resource Corp. has released a 43-101 report for its Carbon Creek metallurgical coal deposit near Chetwynd. The report outlines 114.0 million tonnes of measured and indicated resources, plus 89.1 million tonnes of inferred resource. The coal has an ASTM rank of mvB.
Australia moved closer to introducing a contentious 30 percent mining tax being eyed by other countries, releasing draft laws and seeking reaction from resource companies to legislation expected to be passed later this year. The government unveiled the mining tax over a year ago but modified its plan before last August' s elections after global miners including BHP Billiton , Rio Tinto , and Xstrata launched a public campaign against it. Big miners and minority lawmakers are now broadly supportive and the legislation is expected to pass parliament and take effect on July 1, 2012.
Standard & Poor's has raised its metals price assumptions for 2011 and beyond, citing the increased volatility of the markets but worries about sharp risk of fall in investor demand for gold.