The chief executive of POSCO, the world's No.3 steelmaker, said it would be difficult to raise steel prices enough to cover rising raw materials costs stemming from flooding in Australia, which has affected coal mines, rail links and ports.
Coal Mining News
Kansas City Business Journal reports: With China's accelerating economy heavily dependent on coal, mine safety has emerged as a national priority. Moving to embrace high-tech solutions to improve its record, 15 Chinese scientists and engineers this […]
Reuters India reports: Duke Energy's $13.7 billion deal to buy Progress Energy may allow the combined company to make better use of its aging coal-fired power plants as it seeks to boost generation from natural gas, […]
Grande Cache Coal Corp. (TSX:GCE) lowered production guidance for its current financial year and raised its expected cost per tonne, the Estevan Mercury reported earlier this month.
OfficialWire reports: The coal terminal at Dalrymple Bay, the largest Australia's Queensland state, is running at 70 percent of capacity despite fears flooding would halt production.
The Australian reports: Flooding in Australia's coal heartland has resulted in a price surge across Asia that could flow on to coal-dependent steel and electricity.
Sunday Times reports Xstrata near to buying one of Colombia's biggest coal miners, currently owned by US group Drummonds. Xstrata remains tight-lipped over prospective acquisition. London-listed miner Xstrata is close to winning the $8 billion auction
The mine, in Australia's New South Wales was closed on Wednesday after a fire broke out in the mine Coal miner Xstrata on Friday said it was too early to say when it could reopen Australia's Blakefield South coal mine, which has been shut down due to a
The miner says no miners were caught underground and no injuries have been reported from the fire that erupted on Wednesday afternoon at the mine in New South Wales SYDNEY (Reuters) - A fire has caused Australia's Blakefield South coal mine in New South
“Vallar, the London-listed cash shell founded by financier Nat Rothschild, is looking at acquisitions of coal assets in North America and Australia worth up to $1bn (£646m) as it seeks to bolster its aspirations to […]
Europe's largest dry bulk port terminal in Rotterdam has commissioned Sandvik's bulk materials handling division to supply a 6,000 t/h shiploader.
“Rio Tinto, one of the world’s biggest mining companies, has certainly seen something it fancies in Riversdale, an Australia-based firm that operates mines in Mozambique which produce both coking and thermal coal. Two days before […]
Pre-bid agreement for 14.9% of Riversdale puts Rio's foot in the door in Mozambique coking coal development. Recommended cash offer price of A$16 per share, but higher bids expected. Read more
In a major consolidation within the big Duluth polymetallic Complex, Duluth Metals and partner Antofagasta are to purchase Franconia Minerals. Read more
During October and November, Sandvik Mining and Construction secured a number of orders for bulk materials handling and continuous mining/crushing systems in South America, Africa and Asia.
“A $1.2bn hostile bid by New World Resources for Poland’s profitable Bogdanka coal mine has lapsed after failing to attract enough interest from the pension funds that are its main shareholders.” Source: Financial Times, November 30 […]
The Innovation News article in the December issue looks at the lead Bucyrus (now Caterpillar) has in coal plows. One of the most recent installations was an automated plow longwall ordered by Lubelski Węgiel Bogdanka for […]
Leading Scottish engineering company, Howden Compressors Ltd., part of the Howden group of companies, announces that is has received a multi-million pound order to manufacture and supply a substantial number of its largest screw compressors, […]
“Swiss commodities company Glencore International AG Thursday said its third-quarter net profit rose 45% from a quarter earlier on higher metal prices and a particularly strong performance in its agricultural division.
"Vallar, the cash shell founded by financier Nat Rothschild, is paying $3bn to create a mining company that will see Indonesia's powerful Bakrie family debut with a London listing for their interests. A new company […]
Uncertainty over the potential timing and scale of a bail-out of the Irish economy by its European neighbours continued to dominate markets at home and abroad this week. London’s FTSE 100 reached 5831 points on […]
Anglo-Swiss miner Xstrata Plc is looking for more iron ore acquisitions beyond its current takeover bid for Australia's Sphere Minerals , Xstrata's coal and iron ore division chief Peter Freyberg said. The Economic Times reports
Last week’s Investor Alert highlighted the growth of high-speed rails in China, with its recent launch of the line between Shanghai and Hangzhou. The Shanghai-Hangzhou line now lets passengers shrink their travel time to only 45 […]
Compliance Energy Corporation (TSXV: CEC) – Positive pre-feasibility results – Cash and marketable securities alone account for $0.23 per share
Investment Highlights Pre-feasibility study (PFS) completed for the Raven underground coal mine on Vancouver Island. On a 100% basis, the pre-tax NPV at an 8% discount rate is $201.9 million. The pre-tax Internal Rate of […]
NL Technologies, which designs and markets underground digital communications solutions for the mining and tunneling industries, announced today that they received the ANZEx approval certificate from Simtars for the Polaris cap lamp. Read the press release