Shale Gas Mining News

BHP Billiton back into the black, pays higher-than-expected dividend

Net profit was $3.2bn for the six months to December 31, compared with a loss of $5.7bn in the same period a year earlier.

Trump’s energy policy to focus on boosting fracking, reviving coal sector

US President Donald Trump has outlined his goals in terms of energy and mining, leaving out specifics about how exactly he aims to achieve them.

US coal industry to decline even further in 2017 — IEEFA

Despite a spike in coal prices last year and promises of better times ahead for the sector by President-elect Donald Trump, the US coal industry will face further hardship this year, a new report argues.

US Gov’t mulls raising royalties for coal mining in public lands

The Obama administration has called for a broad array of reforms to its coal-leasing program, including royalty rates increases.

US EPA says fracking can impact drinking water resources

The agency said such statement, however, cannot become a “national, systemic conclusion” about the impacts of the oil and gas extraction method.

Alpha Natural execs. face fraud charges for failing to disclose $100M in liabilities

Regulators argue the undisclosed liabilities increase the probability that the state will be left with claims under the surface-mining and other environmental laws.

South32 scoops up Peabody's Metropolitan coal mine in $200m deal

The deal includes a 17% interest in the Port Kembla Coal Terminal, south of Sydney.

Peabody Energy in restructuring talks with lenders, stakeholders — sources

Peabody circulated a term sheet last week that implied the first lien debt would be impaired, prompting an organizational push, MINING.com has learned.

BHP Billiton to lose chairman Jac Nasser next year

He said he had intended to announce his retirement last year but chose to stay on while BHP dealt with the aftermath of the Samarco mine disaster in Brazil.

World’s top miner BHP Billiton finally sees signs of recovery in mining

BHP is not the first major player to flag green shoots in the mining industry. Caterpillar, the world's largest heavy machinery maker, said the same last month.

World’s No. 1 miner BHP Billiton put its money on oil and gas

The company believes the market is set to move back into balance in 2017, with demand to exceed global supply.

World’s No. 1 miner BHP Billiton posts $6.4bn annual loss — its worst-ever

Not even counting the $7.7 billion in write-downs and charges, BHP’s underlying profit dropped by a painful 81% to $1.2 billion for the year to June.

Lenders throw a lifeline to bankrupt Peabody Energy

The coal giant also said it would review its assets in Australia to run a smaller but "more profitable" basis.

Alpha Natural Resources, Arch Coal near bankruptcy exit deals

Alpha, which filed for bankruptcy in August last year, is scheduled to ask a federal judge Thursday to approve its exit plan despite objections to it.

These five coal miners spent $95 million on lobbying before going bankrupt

Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.

BHP hikes exploration spending, to focus mostly on copper, oil

It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.

BHP resumes expansion plans, says not waiting for prices to recover

Strategic shift comes as the world's biggest miner tries to regain investors' confidence.

Bankrupt Alpha Natural Resources lays off over 230 coal miners

This is the third time in a month the U.S. coal miner downsizes its workforce.

US scientists figure cost-effective way to extract rare earths from coal

The new mineral processing technique also makes the extraction environmentally friendly.

US sets moratorium on new federal coal leases

The freeze on new leases for coal mined from federal lands is part of a sweeping review of the federal coal plan.

BHP takes largest-ever write-down on US shale operation

The world’s largest miner announced Friday a roughly $7.2 billion pretax charge against its U.S. onshore energy assets

US coal miners’ struggles at dawn of 20th century not too far from today’s

Documentary to air Jan. 26 on PBS tells the story of how coal miners came together in a protracted struggle for their rights.

President Obama to revamp coal industry, calls miners to 'invest in the future'

In his final State of the Union address, Obama said companies leasing coal and oil rights on federal land should pay more for the effects those fuels have on climate change.

US coal industry on board 'slow-motion train wreck'— report

Analysts from McKinsey and Co. warn the U.S. is currently home to a collection of “zombie mines” that cannot turn a profit, but are too costly to close.

Total US coal mines the lowest on record — report

The total number of operating coal mines in the U.S. has hit its lowest point since at least 1923, one of the earliest year on record, according to the Energy Information Administration.