Atlantic Coal plc, the AIM listed open cast coal production and processing company with activities in Pennsylvania, USA, is pleased to announce a production update for the three months ended 31 March 2011 from the Stockton Colliery (‘Stockton'), its opencast anthracite operation in Pennsylvania. During the quarter, Atlantic mined 120,850 tons of run-of-mine coal (‘ROM') and removed 658,785 bank cubic yards (BCYs) of overburden. 62,000 tons of ROM coal was washed which produced 28,376 tons of clean coal.
Coal Mining News
Anglo American's Metallurgical Coal business has awarded a mining services contract worth $144m to John Holland Group. Under the three-year contract, John Holland Group will provide coal mine operations for Anglo American's Lake Lindsay and Oak […]
Golder Associates Corp., one of Canada's best-known specialized mining and environmental consultants, Monday acquired the Marston Group, a supplier of mine planning and geological services to the coal, oilsands and metals mining industries. The Montreal […]
Investors looking to play the recent boom in metallurgical coke, used in steel production, will soon have a new, pure-play name to trade. Last week Sunoco (SUN) filed a registration statement for the planned divestiture of SunCoke Energy, the firm's coke division. Sunoco will originally sell 20% of SunCoke in an IPO, and then undertake a tax-free spinoff of the remaining 80% stake to Sunoco shareholders.
Ok, if you've listened to Pickens and the Ratigan show, you know that they seem to think that we can fix things with natural gas and perhaps with some renewables. That will never work. Nor will drilling here - we can replace some of our demand, but not all of it. Further, the amount of oil we have is finite.
We decided to take a look at coal sector. Here are the six names we like right now, plus some commentary on each.
Teck announced on Saturday that it had reached a settlement deal with Local 9346 of the United Steelworkers of America to end the strike at the company's Elkview operation. According to a company statement, the parties will recommend the memorandum of settlement to their respective groups. The union ratification vote is scheduled for Thursday, April 7, 2011. If the agreement is ratified, production at the mine could resume by Friday, April 8, 2011.
Xstrata and Chugoku Electric have settled an annual coal contract for the Japanese fiscal year starting April 1 at a record level of around $130 per tonne, over 30 percent higher than last year's contract, sources told Reuters on Friday.
The vast majority of Australia's coal mines will not face materially higher costs under a polluter-pays scheme designed to reduce carbon emissions, according to Treasury Department documents released by the government on Friday.
SouthGobi Resources announces updated NI 43-101 compliant coal resources and reserves for Its Ovoot Tolgoi Complex in Mongolia
SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) announced today that new, independent estimates prepared by Minarco-MineConsult ("MMC"), have updated coal resources and proven and probable mineral reserves contained at the company's Ovoot Tolgoi Complex, (comprised of the Ovoot Tolgoi Coal Mine and the Ovoot Tolgoi Underground Deposit). Independent estimates for coal resources have also been updated by MMC for the company's Soumber Deposit (comprised of the Soumber Field and the Biluut Field).
Grande Cache Coal Corporation announces new handling agreement with Westshore Terminals Limited Partnership
Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal") has reached an agreement with Westshore Terminals Limited Partnership to exclusively handle Grande Cache Coal's annual coal tonnages that it ships through a West Coast port from April 1, 2012 to March 31, 2022. The commercial terms of the agreement are confidential.
Global miner Rio Tinto lowered the acceptance condition on its A$3.9 billion ($4 billion) offer for Riversdale Mining on Tuesday after entering into talks with Brazil's CSN , a major Riversdale shareholder.
Vladimir Strzhalkovsky, the General Director and Chairman of the Management Board of MMC Norilsk Nickel (the Company) met with the President of the Republic of South Africa Jakob Zuma in RSA. The meeting was held as part of the General Director's business visit to the Republic of South Africa. The parties discussed further development of the Company's projects in RSA.
Diversified mining behemoth BHP Billiton is expected to pour billions of dollars into Australia in an effort to expand its iron ore and coal facilities, says a report from AFP: Mining giant BHP Billiton said Friday it would pour billions of dollars into expanding its coal and iron ore operations in Australia, key commodities that are driving the boom in Asian economies.
The Guardian's Glenn Hurowitz denounced the Obama administration's plan to open up new land to coal mining. Secretary of the Interior Ken Salazar announced on Tuesday that the Bureau of Land Management will be holding […]
The Obama Administration is making more land available for coal mining in Wyoming, says a report from CNN: Coal mining on public lands will expand in the coming months in Wyoming, as the federal government makes more coal-rich land available for lease by mining companies.
Teck Resources announced today that it expects lowers coal output this year due to bad weather conditions along its rail lines and an ongoing labour dispute at its Elkview operations. The company believes that coal […]
Over half of the employees at Teck's Elkview mine in British Columbia have voted to reject a five-year collective agreement. Accepting the agreement would have ended the strike, which is now going into its eighth week. BIV Business Today reports: Teck Resources Limited (TSX: TCK.A and TCK.B) announced today that 57% of the employees at its Elkview operation in southeastern B.C. voted to reject a five-year collective agreement.
Coal explorer Carabella Resources says it has raised $29 million via a significantly oversubscribed placement to institutional and sophisticated investors, AAP reported: The company placed 16.08 million shares at a price of $1.80 per share to investors from Australia, Asia, Europe and United States.
Riversdale Mining Ltd., after a slow take-up of acceptances since the offer was first made in December, according to a report in The Wall Street Journal: The bid was recently sweetened to almost four billion Australian dollars (US$3.99 billion) and the deadline extended a third time after few additional Riversdale shareholders committed themselves to selling to Rio Tinto.
With Lanco looking to build on its recent Griffin Coal purchase, a new turf war is set to emerge between Indian suitors and some Chinese firms for the $500m assets of Premier Coal.
The Alberta government will collect three times more revenue than previously under its revamped mine security program, which pledges to collect money for mine reclamation, The Edmonton Journal is reporting. But existing companies will also get about a 10-year break in payments under the new system, which is geared to collecting more money in the later stages of a mine's life than in the early stages.
Coal mining shares rose on Thursday amid uncertainty over the future of nuclear power as Japan races to avert a meltdown at a power plant crippled by last week's earthquake and tsunami, Reuters reported: In afternoon trading on the New York Stock Exchange, Consol Energy (CNX.N) was up 4.9 percent at $54.96 and Alpha Natural Resources (ANR.N) rose 4.3 percent to $55.17. Peabody Energy (BTU.N) was 3.6 percent higher at $70.05, Massey Energy (MEE.N) was up 3.9 percent at $63.18 and Arch Coal (ACI.N) was 2.2 percent higher at $34.91.
As the safety concerns about nuclear power continue to grab headlines globally, the U.S. EPA has decided to clamp down on coal-fired power plant emissions.
Despite the latest round of UN climate change negotiations concluding in Cancun at the end of 2010 and a temporary hiatus in climate talks until Bangkok in April, it has still been a busy start to the year on energy and environment issues, with a number of important meetings and consultations taking place. Read WCA Chief Executive Milton Catelin's blog.