Coal Top Stories

JPMorgan stops lending to coal companies

The announcement was made Tuesday at the bank's annual investor…

Western Australia is world’s new top mining destination

No Canadian provinces made the top ten list this year.

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Zambia’s largest coal mine reopens

Zambian President Rupiah Banda opened the country's largest coal mine Friday, after Singapore's Nava Bharat took over majority shares and invested $750 million (525 million euros) at the once defunct state entity. Nava Bharat, a Singapore subsidiary of India's Nava Bharat Ventures, has a 65 percent stake in Maamba Collieries, with Zambia's government owning 25 percent through its Zambia Copper Mines Investment Holdings.

Coal India, other mining cos dip on draft mining bill approval

Shares of Coal India and other mining companies tumbled in morning trade on the Bombay Stock Exchange Friday after a ministerial panel approved a draft bill for the mining sector. Coal India fell to a low of Rs 361 in opening trade on the BSE, but later regained some lost ground and was trading at Rs 374.10, down 5.11 percent.

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Indonesia’s Bayan signs 100 mn tonne coal deal with Indian firm

Indonesian coal miner Bayan Resources Tbk has signed a deal with India’s Universal Crescent Power Private Ltd to supply 100 million tonnes of coal over 15 years from 2015, the firm’s chief financial officer said on Friday. “It’s an index linked contract based on the Newcastle index (and) is fully compliant with the minimum pricing regulation,” Alastair McLeod told Reuters. “It’s not a fixed price contract, and so it will vary every month on delivery of the contract.”

28 still trapped in coal mine in China

Twenty-eight miners were still trapped underground Thursday while 63 others were rescued after a fire broke out in a coal mine in China's Shandong province Wednesday night, Xinhua reported. A total of 91 people were trapped after an air compression device located in a parking lot 255 metres underground caught fire at 6.45 p.m. Wednesday, a provincial government spokesman said.

Improvements on the Sena railroad in Mozambique to cost US$200 million [NEW]

The introduction of improvement to the Sena railroad would cost over US$200 million and take at least 18 months, the chairman of Mozambican port and rail company, Portos e Caminhos de Ferro de Moçambique, said Tuesday in Maputo. Brazilian mining group Vale and Australia’s Riversdale Mining have invested hundreds of millions of dollars in coal mining projects in Tete province and plan to use the Sena railroad to transport the coal to the port of Beira.

Mineworkers around the globe unite for higher wages

Unrest and strikes in Indonesia, Chile, Australia and Africa, a shortage of skilled workers in North America and rising labour costs all over the globe are quickly becoming the most serious downsides of a mining boom that started almost a decade ago. While a historically high overall jobless rate is masking spiking wages in the resources sector in the US, workers in emerging markets are shutting down operations of mining companies deemed not to be sharing record profits fairly.

Mongolia herder on mission to tackle mining firms

The destruction of Mongolia's grasslands to access a wealth of mineral riches has sparked an anti-mining movement led by a nomadic herder who says force can be used to bring polluting firms to heel. Tsetsegee Munkhbayar is the head of Fire Nation, a small group on a crusade to put an end to what they say are irresponsible mining operations in the resource-rich landlocked country that are threatening their livelihoods.

SouthGobi receives mining license for Soumber deposit

SouthGobi Resources announced today that the Mineral Resource Authority of Mongolia (MRAM) has issued mining license MV-016869 to its wholly-owned Mongolian operating subsidiary SouthGobi Sands LLC. The new license pertains to the resource previously disclosed by the Company under NI 43-101 standards as the Soumber Deposit.