The Wall Street Journal writes that Tata Steel Ltd. expects its raw material costs to increase around 15% in the next fiscal year starting April 1, mainly due to recent floods in Australia and higher […]
Coal Mining News
Institutional shareholders in Riversdale Mining are moving toward backing global miner Rio Tinto's sweetened A$3.9 billion takeover offer for the Mozambique-focused coal miner, Riversdale's chief executive said on Thursday. Rio Tinto raised its offer to A$16.50 a share on Thursday in a final bid to woo key shareholders who have held up the deal, and extended the offer for a third time, to April 1.
Riversdale Mining head Steve Mallyon has backed Rio Tinto's increased offer for the coal company, warning investors there was no hint of a competing bid, The Wall Street Journal reported. The global giant today said it would increase its offer to $16.50 a share from $16 a share, if it gained more than a 50 per cent interest in the Mozambique-focussed company by March 23. Rio said it would not increase its offer beyond that point unless there was a competing proposal.
Eric Lam, writing in The Financial Post, reports on junior companies that are tapping a rich vein of investor interest in Hong Kong and China. So much so that some are considering listing on the Hong […]
ArcelorMittal, Vale and Xstrata are among six bidders short-listed to develop Mongolia's Tavan Tolgoi mine, the world's largest untapped coking coal deposit, Mongolia said on Monday. U.S. coal miner Peabody , a consortium of Chinese energy firm Shenhua and Japan's Mitsui & Co , and a separate consortium of Japanese, South Korean and Russian companies are the other preferred bidders, said Erdenes MGL, the government body which controls Tavan Tolgoi.
The last coal-fired power plant in the Pacific Northwest will shut down completely by 2025 under an agreement announced Saturday by Washington Gov. Chris Gregoire, says a report by the Los Angeles Times. The first boiler of TransAlta's 1,460-megawatt plant in Centralia, Wash., is set to go offline in 2020 and the second in 2025. “This agreement is sending a message that states are getting serious about combating global-warming pollution and are taking steps to open up markets for home-grown clean energy,” said Bruce Nilles, deputy conservation director with the Sierra Club, whose Beyond Coal Campaign has been involved in the negotiations. Nilles hinted at the breakthrough during a keynote speech at the Public Interest Environmental Law Conference in Eugene, Ore., but commented only after the announcement.
Teck Resources Limited ("Teck", TCK.A and TCK.B, NYSE: TCK) announced today that it has reached agreement with Westshore Terminals Limited Partnership ("Westshore") on terms for the shipment of steelmaking coal from Teck's mines in British Columbia and Alberta for a four year term from April 1, 2012 to March 31, 2016. The new agreement envisions Teck shipping 16 million tonnes of coal in the initial contract year, and larger amounts in subsequent years when Teck's production is scheduled to increase, all at fixed rates through Westshore.
Cardero Resource Corp. announced on Friday that it will acquire all of Coalhunter Mining Corporation's outstanding securities. Cardero will pay about Can$2.1 million in the transaction. Cardero Resources was up over 5% on the TSX to Can$2 a share.
The Associated Press reports that Kate Middleton's ancestors worked in England's coal pits: Her great-grandfather left coal country nearly a century ago in pursuit of a safer way of life in the London area, but […]
The Australian Government's statistics bureau (ABARE) is looking for further growth in iron ore, coal and gold exports in the current year as the commodities boom continues. PERTH (The West Australian) - Iron ore exports will climb another 12 per cent
Making use of methane: Methane recovery technology by Australia-based Industrea is getting a lot of attention in China
In October 2010 the Chinese government shut down 1,611 illegal coal mines in an effort to improve an industry whose working conditions have been described as harsh, dangerous, and often fatal. Last year in China more than 2,600 people died in mining-related accidents, including explosions, floodings and cave-ins, although fatalities have decreased in recent years due to increased safety inspections and the government shuttering illegal mines.
South Africa’s state-owned African Exploration, Mining and Finance Corp. said it will start producing 800,000 metric tons of coal annually for domestic electricity provider Eskom Holdings Ltd. by June, Bloomberg News is reporting: The company, jointly controlled by the government’s energy and mining ministries, will spend 130 million rand ($18.5 million) building a coal mine in Vlakfontein, about 80 kilometers east of Johannesburg, Chief Executive Officer Sizwe Madondo said at the site today. Production will be increased to 1.68 million tons, with the option of boosting it further to 3 million tons annually, he told hundreds of local residents.
Coal exports from major Colombian producer Cerrejon remained on track after a bombing of a rail line in the second attack on its operations in around a month, police and the company said on Thursday.
The two mines, Blair Athol and Kestrel have been under force majeure since late December, after severe flooding in Queensland.
In this series of short articles I present a few of my notes and observations on thermal coal, uranium, vanadium, molybdenum, copper and gold — commodities that were discussed at Roundup 2011 technical exploration conference in […]
SA President Jacob Zuma and Mines Minister Susan Shabangu are expected to preside over the official launch of the African Exploration Mining and Finance Corporation.
Bulgaria’s largest privately owned gas company, Overgas Inc. AD, acting in a consortium of partners from five European countries, has signed an agreement for financial support to a research project on underground coal gasification (UCG) […]
The group announced better-than-expected results for the year on the back of higher prices and said it remains positive about the outlook for commodities markets. Anglo American (AAL.L: Quote) (AGLJ.J:Quote), the world's fourth-largest diversified miner,
The Anglo-Australian company wants to benefit from higher prices for steel-making coal, the business daily said, adding steelmakers oppose the switch, fearing frequent price changes would make production costs more volatile.
The Australian miner said annual sales could fall by around a fifth as a result of the heavy flooding that in the country that affected some of its collieries Australian miner Macarthur Coal's annual sales could fall by around a fifth
Mining companies in the United States are being warned that their operations could be the target of increased scrutiny by the US Environmental Protection Agency (EPA).
The Obama Administration has called for a hardrock mining royalty and a new hardrock AML fee, along with other fees and tax increases for coal mining.
Coal price volatility has not been an issue for the Japanese steel mills since the industry switched to quarterly pricing in April 2010.
The recent news that Ridley Terminals Inc (RTI), located near Prince Rupert on Canada’s northwest coast, has signed a new long-term agreement with its largest shipper, Western Coal Corp, comes at an opportune time.