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China Shenhua Energy to Continue Bid Coal Exploration Projects in Tavan Tolgoi, Mongolia
China Shenhua Energy Co Ltd said it is still in the running for a stake in Mongolia’s massive Tavan Tolgoi project, adding a new twist in the long-running tussle for what has been billed the world’s largest untapped coking coal resource.
Shenhua’s President Ling Wen’s comments on Tuesday came after Mongolia said it had cancelled the [...]
Massey Energy Hopes to Sell More Than 20 Million Tons of Metallurgical Coal
Mine operator Massey Energy Co. said Wednesday that its $960 million acquisition of rival Cumberland Resources this week will help double sales of expensive coal used in steel mills by 2012.
Massey hopes to sell upwards of 20 million tons of metallurgical coal a year by then, riding strong demand from the burgeoning economies of Asia.
Cumberland [...]
Shanxi Puda Coal Received Approval to Consolidate Four Additional Coal Mines in Pinglu County
In order to improve production efficiency and safety in the workplace and to reduce coal mine accidents, in early 2009, the province of Shanxi, the government issued a policy requiring the merger and consolidation of companies in the coal mining province of Shanxi. In accordance with government policy, large corporations coal production given the opportunity [...]
Sasol Coal Mining Company to Build New Coal Mine Exports
Coal mining company Sasol has allocated R3,1-billion for the new export coal mine to replace the depleting Twisdraai operation.
The Thubelisha export coal mine, already under construction, will also supply Sasol’s synfuels factory in Secunda, in Mpumalanga province.
Sasol Mining’s output in the six months to December 31 was up 6%, but its profit of R170-million was [...]
Coal Production Costs James River Coal 4Q Decline
Coal miner James River Coal Co. reported a loss of this coal mining company in the fourth quarter narrowed, but the resulting coal production decreased.
James River Coal said it lost $ 3.2 million, or 12 cents per share, compared with a loss of $ 33.6 million, or $ 1.26 per share, in the quarter a [...]
Arcelormittal Kumba Iron Ore Deal Jettisoned by Anglo American
Anglo American, a diversified mining group, yesterday cancelled an iron-ore supply agreement reached in 2001 on a cost plus 3 per cent basis between its subsidiary Sishen Iron Ore Company (SIOC) and the world’s largest steel maker ArcelorMittal.
Bathurst Resources Joint Venture with L&M Coal Holding Acquires Coking Coal Asset in New Zealand
Australian listed coal company Bathurst Resources has penned an agreement with L&M Coal Holdings to joint venture and ultimately acquire an outstanding hard coking coal asset in the Buller coal field in New Zealand through the acquisition of 100% of L&M Coal Limited.
Macarthur Coal Reported Net Profit 39.6 Million, Down 63 Percent
Macarthur Coal posted a net profit of $39.6 million for the six months ended December 31, down 63 per cent from $106.9m a year earlier due to lower coal prices.
Chief executive Nicole Hollows said the company was on track to meet full year sales guidance of 4.8 million to 5 million tonnes and that the [...]
PTC India Plans Joint Ventures for Coal Mining Assets
PTC India Ltd., the country’s largest power trader, plans to form joint ventures to buy stakes in mining projects abroad to help secure fuel supplies for Indian power producers who face coal shortages, its chairman said Monday.
New-Delhi based PTC plans to buy coal assets with overseas and Indian companies in Indonesia and Australia and may [...]
