Shale Gas Mining News

China successfully mines flammable ice from the South Sea

During the mining trial done at a depth of 4,153 feet, engineers extracted each day around 16,000 cubic metres of gas, with methane content of up to 99.5%.

BHP’s Mackenzie, Elliot Management face off

US activist investor steps up pressure on BHP to ditch petroleum. Mackenzie says company already knows what to do to lift value by 50% and double return on capital.

BHP ditching 'Billiton' in $10 million rebranding move

Move comes on the heels of calls from shareholders including activist investor Elliott Management and Australia’s Tribeca Investment Partners for a change of BHP's corporate structure.

Another BHP investor pressing for oil spinoff, board shake-up

The miner faces another shareholder revolt as Australia’s Tribeca has joined calls by US activist investor Elliott Management for an exit from shale to free up capital.

BHP puts US shale assets back on the block amid investors pressure

The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.

BHP top shareholders step up pressure for oil spinoff

They're pressing the company not only to accept a proposal by activist investor Elliott Management to spin off its US petroleum business, but to fully demerge all of its oil and gas assets.

BHP brands Elliott's overhaul proposals as flawed, costly

Activist investor Elliott's proposals to break up BHP are riddled with “major flaws” and could end up costing far more to implement than they would save, the company said.

BHP Billiton to escalate defence from Elliott with Goldman’s help

Analysts expect BHP to argue that a demerged petroleum business would need to fund offshore growth projects by raising debt. It may also contend that a stand-alone division won’t have the same ability to defer production until oil prices improve.

BHP rejects activist fund Elliott urge to spin off US oil assets

Company says the associated risks of spinning off about $22 billion of its US oil assets and listing them in New York would significantly outweigh any potential benefits.

Trump signs executive order undoing Obama's clean power plan

He has instruct has ordered the Environmental Protection Agency (EPA) to review and rewrite it.

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.