Coal Mining News

Puda Coal says auditor resigns, fiscal 2009 and 2010 'cannot be relied on'

Reuters reports China's Puda Coal said its auditor Moore Stephens has resigned, effective immediately, and the auditor warned that audit reports for fiscal years 2009 and 2010 should no longer be relied upon. In April, the Puda stock had been halted by the American Stock Exchange after the company said it will investigate unauthorized transactions in the shares of subsidiary Shanxi Coal by Chairman Ming Zhao, alleged by an website.

Motley Fool: the EPA won’t kill the coal industry

Depending on whom you ask, the past week has either been a major hit to America's domestic and labor markets, or a huge step forward in environmental protection. And it's not obvious who is on which side of the argument.

Australia market rattled by carbon tax, debt woes

Stocks sank to their lowest point this month after a sharp selloff on renewed concerns over the carbon tax and international debt woes. The S&P/ASX 200 Index closed down 86.9 points, or 1.9 per cent, at 4495.4. Almost $25 billion was wiped from the value of the bourse.

Miner suffers fatal injuries at Kentucky coal mine

July 12 (Reuters) - Alpha Natural Resources Inc: * Miner suffers fatal injuries at Kentucky coal mine * Says preliminary review indicates that Mr. Thatcher was fatally injured * Ryan Thatcher, a motorman at voyager #7 mine, was hauling supplies at the

Peel and UK Coal could build 11 waste-to-energy plants

Plans to develop waste-to-energy facilities on 11 UK Coal sites in the North of England and the Midlands took a major step forward Monday after the coal giant’s shareholders approved plans to establish a joint venture for the project with Peel Environmental.

Coal ministry asked to review cancellation of NTPC blocks

The power ministry has again approached coal ministry asking it to review its decision to cancel allotment of five coal blocks to NTPC, as the decision would hit the state-run power company's plans to boost its power generation capacity during 2012-17.

Vale idea to keep Isaac mine operating

Brazilian mining giant Vale has moved to resolve an impasse with joint venture partner Aquila Resources to keep their Isaac Plains export coal mine in Queensland operating.

Australia carbon tax hits shares of miners, airlines

Coal miners, steel firms and airlines were sold off on Monday a day after Australia's unpopular government introduced a carbon tax scheme, while power suppliers warned the tax could risk 4-6 billion Australian dollars in assets if banks tightened financing.

Coal will boom but at a cost – miners

Queensland's coal industry will grow under carbon pricing but it will come at a cost, its industry body says. Queensland Resources Council members voiced their concerns to Premier Anna Bligh on Monday afternoon after the federal government announced its

Coal shares gain after Macarthur bid

Macarthur Coal shares soared almost 40 per cent after Peabody Energy's near $5 billion takeover bid, providing a stock price boost to others in the Australian coal sector. The shares closed up $4.06, or 36.64 per cent, at $15.14 on Tuesday, Macarthur's highest finish since late April.

Three rescuers die of heat stroke in fighting coal mine fire in E. China

Three rescuers died of heat stroke in fighting a coal mine fire on Sunday in east China's Shandong Province, according to the rescue headquarters of Zhaozhuang Fangbei Coal Mine.

Carbon, mining taxes won't stop investment: analysts

The Federal Government's sales pitch on its carbon pollution policy is getting a boost from an unlikely source - the world's biggest privately-owned coal miner.

Australian PM hails coal miner takeover bid

Australian Prime Minister Julia Gillard has hailed a takeover bid for a Queensland coal mine as proof her carbon price package won't kill off the sector. US energy giant Peabody Energy Corp is making a second tilt for Macarthur Coal within 14 months, this time through a $5 billion bid in tandem with the world's largest steel maker, ArcelorMittal.

Sex trade flourishes as Mongolia enjoys mining success

Pimps man the park across from the historic Ulan Bator Hotel, popular with foreigners. They are keeping an eye on their employees -- about 20 women working in Mongolia's quickly expanding sex trade. Image by Tomascastelazo

Coal ministry urges speedy development of blocks

The Coal Ministry has warned Binani Cement, the Tamil Nadu Electricity Board (TNEB) and other companies for the delay in developing the lignite and coal blocks allocated to them within specified time frame.

Staff shortages threaten Aussie miners

Chronic labour shortages in resource-rich Western Australia could put mining projects at risk, as the state struggles to plug a shortfall of skilled workers set to balloon to 150,000 by 2017, the region's jobs minister said on Monday.

Spectre of new Indian mining bill spooks coal producers and shareholders

A new Indian draft mining bill is causing concern among mining groups and their investors in one of the world's leading coal and iron ore producing countries. Accoring to India's Economic Times, shares in Coal India have fallen after news of the possibility of a new Mining and Mineral Development Regulation Bill emerged. 

Ministry's coal supply policy hits merchant power companies

The power ministry's preference for coal supply to generation projects that supply to state utilities under an agreement will affect merchant power capacity in the 12th Five-Year-Plan.

Carbon tax on coal hits NSW coffers hard

The New South Wales government will be hundreds of millions of dollars a year worse off after the federal carbon tax deal denied compensation to the state's mainly government-owned black coal power generators.

The chief executive of state-owned Solid Energy has talked critically of Pike River Coal

The chief executive of state-owned Solid Energy has talked critically of Pike River Coal at the Royal Commission of Inquiry this afternoon.

Australia to catch up with Europe as carbon tax details emerge

Australian businesses are reacting to the details of a new carbon tax which has been lauded by environmentalists as historic but condemned as economic madness by critics. Despite the criticism, analysts say Australia lags behind parts of the developed

German hard coal imports seen up 2-3 million tonnes in 2011

German imports of hard coal are likely to rise by between 2 and 3 million tonnes over last year's 45 million tonnes, importers said on Monday, citing steel industry demand and needs to replace nuclear power generation. "The increases will be relatively

New Zealand inquiry hears testimony into cause of coal mine explosion that killed 29 workers

WELLINGTON, New Zealand - Financial pressures may have led a New Zealand coal mining operation to overextend itself before an explosion killed 29 workers last year, an energy executive testified Monday at an inquiry into the country's worst mine disaster

Peabody, ArcelorMittal bid $5 bln for Macarthur Coal

Peabody Energy has teamed up with ArcelorMittal to offer $5 billion for Australia's Macarthur Coal , the world's biggest producer of pulverised coal, as demand for steel-making raw materials intensifies. The cash offer of A$15.50 a share represents a 40-percent premium to Monday's close and comes just a day after Australia unveiled a plan to tax carbon emissions from the nation's worst polluters, or about 500 companies, including coal miners.