Coal Top Stories

RWE to cut one in three jobs in $2.9bn coal exit deal

Germany's biggest power producer will cut about 6,000 jobs, or…

New German coal plant could threaten Merkel’s final climate push

The federal government last year approved 40 billion euros in…

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Two coal mine disasters kill 3, trap 40 in China

Rescuers were racing against time on Saturday to reach 40 miners buried underground in two separate coal mine disasters which have already killed three people in south China. Work crew operated at least 17 pumps at Niupeng Mine in rural Guizhou Province to release water from the flooded mine before rescuers could be sent down the pit.

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Zambia coal power plant construction to start in 2011

Singapore's Nava Bharat Pte plans to start construction of a 300 megawatt (MW) coal-fired power plant in Zambia by the end of 2011 and complete it by 2014, company director Ashwin Devineni said on Saturday. "We have finalised the detailed layout of the power plant initially for 300 MW and later for an additional 300 MW," Devineni said in a statement.

India environment ministry clears six coal projects in Orissa

Indian Express reports the Environment Ministry today gave its clearance for mining in six coal blocks in Orissa that are planned to feed coal to three crucial power plants, including one ultra-mega power project (UMPP). Five of these six coal blocks fell in ‘No-Go’ areas — a reference to those forest areas which are out of bounds for coal mining —because of which environmental clearance was being held up. The permission came after all the three power projects agreed to substantially reduce the forest area that will be damaged by coal mining.

Teck announces pricing of US$2.0 billion notes offering

Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) ("Teck") announced today that it has priced its previously announced offering of senior unsecured notes. Teck will issue US$2.0 billion in aggregate principal amount of notes, consisting of US$300 million aggregate principal amount of 3.15% notes due 2017, US$700 million aggregate principal amount of 4.75% notes due 2022 and US$1.0 billion aggregate principal amount of 6.25% notes due 2041.

Mining truck tires now pricier than a Merc

China's insatiable demand for commodities has prompted a tripling in the price of mining truck tyres, making them more expensive than a Mercedes sportscar. Prices for tyres about 3.5 meters wide used on the Caterpillar trucks that haul iron ore and coal have touched $93,500 on the spot market, according to Leighton Holdings, a contractor for mining companies including BHP Billiton. Prices rose as high as $140,000 in 2008.

BIV: Prophecy coal delivers historic shipment to Russia

A Vancouver-based company is behind Mongolia’s first shipment of coal to the Republic of Buryatia in the Russian Federation. On Wednesday, Prophecy Coal (TSX-V:PCY) said it had shipped 650 tonnes, or 10 wagons worth, of coal from the company’s Ulaan Ovoo mine in Mongolia to an energy company in southeastern Russia.

Brazil’s steel industry ‘almost at crisis point’

FoxBusiness.com quotes an analyst at an industry conference in Rio de Janeiro as saying on Tuesday Brazil's steel industry is "almost at crisis point," due to the country's strong currency and soaring raw-materials costs. Steelmakers have been hit by soaring prices for raw materials, including metallurgical coal and iron ore, prices for which reached record-high levels earlier this year. Some steelmakers have intensified their own iron-ore production activities in Brazil to shield themselves from high ore prices, but Brazil lacks sufficient coking coal resources.