Coal Mining News

Arch Coal prices private offering of $2.0 billion of senior notes

Arch Coal, Inc. (NYSE: ACI) ("Arch") today announced the pricing of its private offering of $1.0 billion principal amount of its 7.000% senior notes due 2019 and $1.0 billion principal amount of its 7.250% senior notes due 2021 (together, the "Senior Notes"), in each case at an issue price of 100% of the principal amount. Arch will pay interest on each series of the Senior Notes on June 15 and December 15 of each year, beginning on December 15, 2011. Each series of the Senior Notes will be guaranteed by Arch's subsidiaries that guarantee indebtedness under Arch's secured credit facility.

Top 40 mining companies’ 2010 financial results ‘spectacular’-PwC

The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report. In their report Mine 2011: The game has changed, PwC called the financial results of the top 40 "spectacular" as total revenues increased 32% to US$435 billion, breaking the $400 billion mark for the first time.

Shenhua shares fall on construction halt announcement

Shares in China Shenhua Energy fell on Tuesday after it said it had halted construction on mine shafts at two of its coal mines that had violated regulations by starting building without the necessary approvals.

Carbon price plan to have minor impact on GNP – Australia

Australian plans to put a price on carbon emissions won't stop the nation's strong economic growth and will have only a small impact on incomes, according to Treasury modelling to be unveiled by Treasurer Wayne […]

Profit margins at world’s top 40 mining companies fall

Profit margins for the world's top 40 mining companies are below the historical peaks of 2006 and 2007 as higher costs outweigh record commodity prices, PricewaterhouseCoopers said on Tuesday. Revenues for the world's 40 largest […]

Cliffs Natural Resources Inc. announces public offering of common shares

Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) today announced that it is offering to sell, subject to market and other conditions, 9,000,000 common shares through an underwritten offering. In connection with the offering, the underwriters have been granted an over-allotment option to purchase an additional 1,350,000 common shares.

China coking coal demand seen up 180MT by 2015

Shanghai Securities News citing unspecified government authorities reported that China’s demand for coking coal is expected to increase by 180 million tonnes by 2015. And, coking coal output in North China’s Shanxi province, the main production base for steelmaking material, would merely gain 80 million tonnes, which may result in demand shortfall of 100 million tonnes, due to limited increase in other production provinces. According to reports of relevant government departments, it is estimated that China consumed 540 million tonnes or so washed coking coal for the production of over 380 million tonnes coke in 2010.

Indonesian coal boom coming

Indonesian coal giant Adaro Energy expects 2011 coal production up 5 million tons from last year to 46-48 million tons and then to nearly 50 million in 2012, while Bayan Resources is aiming to more than double its output to 25 million tonnes by 2013. Indonesia is expected to make up 39% of the global increase in coal exports, with Adaro and top miner Bumi Resources becoming two of the top three exporters by 2015. Australia will follow closely behind in terms of growth. India will surpass Japan as the leading buyer of Indonesian coal this year, the country’s coal association told Reuters, and India’s demand will continue to surge as electricity demand is expected to rise 56% by 2017.

SouthGobi Resources announces Soumber coal deposit officially registered with Government of Mongolia

SouthGobi Resources announced that it has been notified by the Mineral Resource Authority of Mongolia (MRAM) that the company's Soumber coal deposit has been officially registered. The registration process includes calculation of resources to Mongolian standards, review of the calculations by MRAM-appointed industry experts, and defense of the calculations before the Minerals Resource Committee. Mineral deposit registration is a prerequisite for applying for a Mining License.

Grande Cache Coal earns net income of $27.7 million during fiscal 2011

Grande Cache Coal announced its financial and operating results for the three and twelve months ended March 31, 2011. Net income for fiscal 2011 was $27.7 million ($0.28 per basic and diluted share) representing a 38% increase from $20.1 million ($0.21 per basic share and $0.20 per diluted share) in fiscal 2010. Fourth quarter net income was $5.1 million ($0.05 per basic and diluted share) compared to $1.4 million ($0.01 per basic and diluted share) in the same period last year.

Tornadoes, carbon monoxide take toll on Cliffs' 2011 coal production

Cliffs Natural Resources announced Thursday it will reduce its outlook from 6.5 million tons of coal this year to 5.1 million tons, citing severe weather damage at its Oak Grove mine in Alabama and carbon monoxide hazards in its Pinnacle mine in West Virginia. The company also said its newly acquired Bloom Lake operation will yield 4.8 million tons of iron ore concentrate this year.

The ultimate guide to coal investing

Coal has been mined across the world since the Bronze Age, becoming an important commodity during Roman times, especially in what is today Great Britain. However, the true Golden Age of coal began with the start of the Industrial Revolution in Europe and North America in the late 1700′s and early 1800′s.

Riversdale to spend US$50m to import coal moving equipment to Mozambique reports: The Australian company Riversdale has announced the investment of 50 million US dollars in importing 11 locomotives and 200 wagons to move coal from the western Mozambican province of Tete to the port of Beira. Riversdale (which was recently taken over by Rio Tinto) operates an open cast mine at Benga, in Moatize district, which is due to start production later this year.

China's increased dominance of global commodities market carries risk-S&P

Standard & Poor's expressed concerns Wednesday that record commodity prices could represent an "unsustained bubble, subject to a sudden correction."

Rio Tinto and Chinalco form exploration JV

Rio Tinto and Chinalco will be positioning their drills in Mainland China, the two companies announced today, in a new exploration joint venture to operate under the name Chinalco Rio Tinto Exploration Co. Ltd. (CRTX). According to a press release issued by Rio Tinto, the primary focus of CRTX will be copper exploration, with coal and potash to be considered later.

The world is not running out of natural resources

Let me begin by saying that I believe the premise of this question is mistaken. It is quite incorrect to think that fossil fuel resources are finite. It may be true that there is a finite quantity of such resources in the earth's crust, but that does not mean that we will ever run out.

Teck announces retirement of General Manager, Trail Operations

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) announced today that Mike Martin will retire from his role as General Manager Trail Operations. Mr. Martin will transition from his General Manager role beginning July 1, 2011.

Over shareholder objections, Alpha, Massey officially finalize $7bn merger

Alpha Natural Resources is expected to complete its $7 billion acquisition of Massey Energy Wednesday morning, after Massey shareholders lost two legal challenges in West Virginia and Delaware courts to stop the transaction. Meanwhile two […]

Australia's proposed carbon tax could raise sovereign risk, ruin coal industry – miners

Mining giants warned Australia on Wednesday that its planned carbon-reduction scheme could cost the industry as much as $25 billion through 2020, cut coal production by a third and send investment in that sector tumbling 13 percent. "Australia is walking the plank," Seamus French, who runs the coal division of miner Anglo-American Plc , told a conference, a day after the Australian government's climate-change adviser suggested how carbon emissions should be taxed.

China setting the pace for iron ore

The world's biggest consumer of steel is ready to raise the stakes. Steel demand in China is expected to rise by around 25% by the year 2015, to a huge 750 million metric tonnes. To ensure an adequate supply position, China is set to create three iron ore mining groups, with an output capacity of 100 million tonnes each. Six other groups with a capacity of 30 million tonnes are to be cobbled together to ensure steady supplies. Iron ore is the principal raw material used to make steel.

America West Resources completes mine development and commences full production at Horizon Coal Mine

America West Resources, Inc. (OTCBB: AWSR), a domestic compliant coal producer with mining operations in Central Utah, today announced that it has successfully completed mine development and commenced full production at Horizon Coal Mine, located in Carbon County about 120 miles southeast of Salt Lake City, Utah. It is estimated that there is more than 16 million recoverable tons of high quality, thermal coal reserves under lease at the Horizon Mine. Over the past 36 months, America West has focused on implementing a mine development strategy utilizing a room and pillar mining approach to excavating coal deposits from the 1,640 acre mining leasehold.

Cobalt Coal Corp. announces that the continuous miner is back on production

Cobalt Coal announced an update to the previous press release of May 18, 20011 where a significant machine malfunctioned at its Westchester Mine. The continuous miner has now been repaired and recommenced cutting coal on […]

Chinese, Indian coal demand to surge by 2015

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.

China coal imports to double in 2015, India close behind

Top coal consumer China should see import demand more than double in the next four years and India will be close behind as both hoover up supplies on international markets to feed rapidly growing power industries, industry executives said on Monday. China's thermal coal imports could rise to 200 million tonnes in 2015 from around 90 million tonnes in 2011, Neil Dhar, executive vice president of trading house Noble Group, told the Coaltrans Asia conference.

Construction starts on world’s biggest biomass power station as scores of coal-fired plants face shutdown

Engineering work has begun at a coal-fired power station on the banks of the Thames in England, UK that could turn it into the world's largest biomass plant with almost no carbon emissions. The owner of the Tilbury power station, previously scheduled for shut down in 2015 under new EU environmental regulations, says it hopes to produce up to 750 megawatts of green power by winter. Last week it was reported that the approval of new rules for air pollution, water pollution, and waste disposal in the US could result in the retirement of between 35 and 70 gigawatts (GW) of coal-fired power generation throughout that country.