Coal Mining News

Two rescued after week trapped in China mine (AFP)

Two workers were rescued on Sunday after being trapped for more than a week deep underground in a southern China mine collapse in which eight people died and 12 were still missing, state media reported.

Ministry denies allotment of coal blocks in recent past

The Indian Coal Ministry Saturday rejected as unfounded and baseless the allegations in regard to the allocation of coal blocks.

Coal exports near 19-year high may buoy US railroads

The United States is poised to export the most coal since 1992 this year, filling a gap created when flooding interrupted Australian supplies and buoying shipments for railroads such as Union Pacific and CSX. Union Pacific, the nation’s largest railroad, may double coal exports this year to more than 4 million tonnes, said Doug Glass, the company’s vice president and general manager for energy. CSX predicts shipments may rise 33 percent to a record in 2011 after first-quarter volumes climbed 45 percent.

Australian PM to unveil carbon tax

More details of the carbon tax are trickling out as the Australian Government prepares to take the next step towards imposing its carbon price.

Zambia's largest coal mine reopens

Zambian President Rupiah Banda opened the country's largest coal mine Friday, after Singapore's Nava Bharat took over majority shares and invested $750 million (525 million euros) at the once defunct state entity. Nava Bharat, a Singapore subsidiary of India's Nava Bharat Ventures, has a 65 percent stake in Maamba Collieries, with Zambia's government owning 25 percent through its Zambia Copper Mines Investment Holdings.

German Parliament set to okay clean coal bill

Reuters reported that Germany is set to approve funding to develop cleaner coal technology. The market news is quoted as saying: Germany, Europe’s largest economy and a global manufacturing powerhouse, has committed to reducing its carbon footprint by 40 percent in 2020 compared with 1990, with further cuts to come over the following three decades.

Carbon Tax Impact on Coal

Citi analysts note that the coal industry is set to become the country's highest taxed mining sector it would appear, given corporate tax, state mining royalties of up to 10%, an upcoming Mineral Resource Rent Tax (which, incidentally, is to be charged

Coal India, other mining cos dip on draft mining bill approval

Shares of Coal India and other mining companies tumbled in morning trade on the Bombay Stock Exchange Friday after a ministerial panel approved a draft bill for the mining sector. Coal India fell to a low of Rs 361 in opening trade on the BSE, but later regained some lost ground and was trading at Rs 374.10, down 5.11 percent.

Tulsian`s view on Sesa Goa, Coal India

at 17:48 ALSO READ Coal India BSE| NSE 08/07/11 Other Stocks in this news Sesa Goa| SP Tulsian, sptulsian.com view on Sesa Goa and Coal India . Tulsian told CNBC-TV18, “It is largely against the working or maybe the interest of Coal India because

Mitsui to buy into Australia's Cockatoo coal project

TOKYO, July 8 -- (Kyodo) _ Mitsui & Co. will pay 3.27 billion yen to acquire a 49 percent stake in a coal mining project in Queensland, Australia developed by Cockatoo Coal Ltd., Mitsui officials said Friday. The Japanese trading house and the Australian

2 books, standards at 1 coal company

Posted to: Editorials Opinion About editorials Virginian-Pilot editorials represent the consensus of the editorial board, which is independent of the newsroom. Board members are Maurice A. Jones, publisher; Donald Luzzatto, editorial page editor; and

South Korea calls for fresh talks with Mongolia over coal deposit

SEOUL -- 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.”

Indonesia’s Bayan signs 100 mn tonne coal deal with Indian firm

Indonesian coal miner Bayan Resources Tbk has signed a deal with India’s Universal Crescent Power Private Ltd to supply 100 million tonnes of coal over 15 years from 2015, the firm’s chief financial officer said on Friday. “It’s an index linked contract based on the Newcastle index (and) is fully compliant with the minimum pricing regulation,” Alastair McLeod told Reuters. “It’s not a fixed price contract, and so it will vary every month on delivery of the contract.”

Petrovietnam units sign $1.2 bln coal-power plant deals

State-run Petrovietnam has awarded two contracts worth a combined $1.2 billion to two subsidiaries to build a 1,200-megawatt, coal-fired power plant, which will boost its thermal coal imports from Indonesia and Australia, the government said. Vietnam has also licensed Malaysia's Jaks Resources Berhad to invest $2.25 billion to build a coal-fired power plant in northern Vietnam, using

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