Donkin mine would produce about three million tons of coal a year.
Xstrata Coal Mining News
The results add to the recent list of a dreadful reporting season from major miners, such as Rio Tinto and Anglo American.
The world’s largest commodities trader said more details about the pending deal will be revealed on Tuesday. Meanwhile, it faces claims of supplying Iran with key ingredients for the manufacture of tubes used in uranium enrichment centrifuges.
The move would drop the number of FTSE 100 with all-male boards to five.
The miners joint production numbers released by Glencore revealed a decline in output across key metals such as coal and copper.
South Africa's Competition Tribunal will publish its official decision on the proposed Glencore-Xstrata merger tomorrow.
Eskom's announcement removes one of the last few hurdles in the two companies' quest to create the world's fourth-biggest diversified miner.
The country's iron ore imports in 2012 totalled $95.6 billion, 8.4% higher than the previous year.
Glencore has extended the deadline to complete takeover of Xstrata (LON:XTA) by a month after South African power utility Eskom expressed worries about its coal supplies.
Xstrata Coal (LON:XTA) began to reduce its workforce across its Australian coal operations by firing its first 40 permanent employees out of the 600 announced cuts.
Brazilian mining giant Vale has followed the gloomy trend set by BHP and Xstrata by announcing it will lay-off workers at its coal operations.
London-based Anglo American (LSE:AAL) has joined an expanding list of coal producers making staff cuts at specific Australian operations, after it announced it will cut at least 50 jobs when its Moranbah North mine reverts back to a single longwall operation.
Already running at a loss or struggling to stay in the black, most thermal coal mines in Australia's Queensland are now facing additional challenges as exports drop and major projects wind back.
Coal chief executive Peter Freyberg has called the bottom of the thermal coal market, telling investors last week ''we are seeing recovery in the markets''.
Wandoan, with a population of less than 380 people, could get about $106 million from mining giant Xstrata if the Swiss company decides to go ahead with its $6 billion coal project bordering the local community.
In an effort to stimulate mining exploration in the Canadian province of Nova Scotia, the local government has started offering grants of up to $100,000 to mineral prospectors and exploration companies.
A partnership formed by JX Nippon Oil & Energy and Xstrata Coal will invest $35 million on a preliminary study of the Suska coal project in eastern British Columbia.
Colombia’s leading coal producers are increasing investments dramatically to improve and expand their ports, in what is considered a key move for rising coal production in the country to 120 million tons within by 2014.
Australian miner Xstrata Coal is pulling out of the Donkin Mine project, which promised to employ as many as 300 people in Cape Breton, Eastern Canada, by 2014.
Xstrata Coal Donkin Management Limited ("Xstrata Coal") and Erdene Resource Development Corp. ("Erdene") (TSX:ERD.TO -News) today announced that Xstrata Coal is seeking an operating coal company to assume its interest in the Donkin Coal project ("Project").
A past-producing colliery in one of North America's oldest coal mining belts is on its way to resuming production, says a story today in Halifax Media Co-op.
Xstrata threatens Australian marketing company with defamation over spoof of anti mining taxes campaign
Mumbrella may face defamation charges from Xstrata Coal after it published a parody video of the anti mining taxes campaign, re-launched last week by The Minerals Council of Australia.
Queensland's Land Court has recommended the state government approve Xstrata Coal's thermal coalmine at Wandoan, in the Surat Basin, deeming objections based on its likely contribution to climate change ''irrelevant''.
Japanese JX Nippon Oil & Energy acquired a 25% of diversified miner Xstrata Coal operations in Western Canada for US$435 million, creating a joint venture that will build the business and market coal in Japan.
Xstrata, one of the world's largest thermal coal exporters, announced today that it has completed the sale of two Mpumalanga collieries to black economic-empowered (BEE) group Imbawula, for an unrevealed sum.