Coal Top Stories

MINING.COM MINUTE: Biggest stories of the week

BHP says Chinese coal customers have made deferment requests; Newcrest…

China’s reported ban on Australian coal escalates dispute beyond mere nuisance

Ties between the two have been severely strained on a…

Latest Stories

Building the world’s largest coal mine turning into diplomatic disaster

China Briefing News reports state-owned Shenhua, the leader of a joint Chinese, Mongolian, Russian, and US consortium awarded the western block of Mongolia's Tavan Tolgoi coking coal field – the world's largest – faces a rocky road ahead to bring the project to fruition. According to CBN the political structuring is typical but none of the three operators have given public explanations as to how they may proceed or even work together. While losing bidders from Brazil, India and South Korea are smarting, Japan have gone so far as to call the bidding process'extremely regrettable'. And all this while Mongolia hopes to raise as much as $5 billion privatizing Tavan Tolgoi early next year.

Tree-sitters halt blasting at ex-Massey mine for eighth day

The Huntington News reports Thursday two protesters associated with the portentous Radical Action for Mountain People's Survival Campaign, continue to occupy trees within the Bee Tree surface mine's blasting zone, where they have stopped mining for eight days.   The Bee Tree mine is situated on the aptly named Coal River Mountain in West Virginia and is owned by Alpha Resources, the company that bought the original owners of the mine, Massey Energy which last year was responsible for the worst US mine disaster in 40-years after keeping fraudulent safety records.

Consol Energy reports fifth consecutive quarter of record coal revenue; US thermal coal sold out due to hot weather

CONSOL Energy, a diversifed fuel producer in the Eastern United States, reported adjusted net income of $174 million or 76 cents per diluted share, in the quarter ended June 30, 2011, an increase of 69% from the adjusted net income of $103 million for the quarter ended June 30, 2010. The financial results were aided largely by the coal division, which posted record revenue of $1.212 billion. This was the fifth consecutive quarter of record revenue for the coal division.

Swan Hills Synfuels secures $285 million grant from Province of Alberta to build carbon capture and storage project

The Province of Alberta and Swan Hills Synfuels are advancing a clean gas for clean power project that will dramatically reduce emissions by capturing and sequestering over 1.3 million tonnes per year of CO2. The province has executed a letter of intent with Swan Hills Synfuels to provide a $285 million grant in support of this carbon capture and storage project.

Universal Coal secures 40 pct ownership of plus billion tonne Berenice Coking Coal Project

Universal Coal (ASX: UNV) has moved to a direct 40% ownership of the Berenice Coking Coal Project and the Somerville project in South Africa, post the completion of the first phase of drilling and the updated resource estimate - which was completed by GEMECS. The significance of the ownership for Universal Coal is that Berenice hosts a coking coal JORC Resource of over one billion tonnes, with 218 million tonnes Indicated and 840 million tonnes Inferred.

Fear beginning to replace greed as mining boom gets long in the tooth

Despite a flurry of mergers and acquisitions and a robust IPO market reports out on Wednesday suggest that fear is slowly replacing greed in the mining finance business. The Financial Post reports for investment bankers, the low-hanging fruit is long gone and the biggest financings are now high-risk: gold juniors in Africa, coal in Colombia and an infamous Quebec lithium play that overstated its resource. Global Mining Finance's July round-up says untrustworthy financial and resource reporting, threats of new royalty regimes, "super-profit" and carbon taxes, political turmoil, strikes and government takeovers are worrying resource investors all around the world.

Mongolia state-owned miner signs coal deal with China’s Chalco

Mongolia's state-owned miner Erdenes Tavan Tolgoi (TT) has agreed to sell $250 million worth of coal from the east Tsankhi deposit to Aluminium Corp of China Ltd (Chalco) , a move insiders said was aimed at raising cash to help fund its impending listing fees. Under the agreement, Chalco would resell 30 percent of the coal to Japanese trading houses Itochu Corp and Mitsui as well as state-owned Korea Resources Corp (KORES), Erdenes TT LLC said in a statement seen on Wednesday.

FLSmidth wins order for a coal handling project in India

FLSmidth has been awarded a contract worth approximately EUR 25m (approximately DKK 180m) by Jhabua Power Ltd. for the supply and installation of the first phase of a 1,800 tons per hour coal handling plant for their upcoming power plant project at Jhabua in the state of Madhya Pradesh in central India.