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Anglo Coal Will Close Queensland Coal Mining Exploration Project Early
Coal mining company Anglo Coal will close the coal mines located in Queensland, if the Federal Government issued a climate change policies that affect air pollution levels. Due to the closure of coal mining exploration project, as many as 2000 jobs associated with mining exploration activities will be lost. Anglo Coal hopes the Federal Government [...]
Coal Mining Companies Future on Global Crisis, Anglo Coal Cut Mining Jobs
Anglo American Plc’s coal unit, which has closed two mines in Australia this year, will slash a further 650 staff from operations in the country and monitor future production amid a slump in demand.
Coal Mines Demand Decrease, $30b Propose Coal Mine Project Due
The crash in world demand for coking coal has left as much as $30 billion of proposed coalmine developments in Queensland in limbo.
The crisis resulted this week in Queensland mining companies starting to to slash employment.
Three Mining Companies Plans Cut Mining Exploration Job Amid Resources Downturn
Xstrata, Macarthur Coal and OZ Minerals – moved to cut jobs, as the resources downturn starts to threaten the broader economy.
One of the three, Macarthur Coal (mcc.ASX:Quote,News), also slashed its profit guidance and suspended dividends, sending its shares tumbling a record 22 per cent.
Invesment Proposal Of Establishment Of Clean Coal Research Institute
Kevin Rudd has summoned mining and industry chief executives, environmentalists and union leaders to Canberra this morning to unveil a $100 million clean coal research institute aimed at making Australia the world hub for the climate-change-fighting technology.
The launch is the start of a major diplomatic effort to win international support and funding for the plan, [...]
Linc Energy Ltd Sign Agreement To Sell Coal Project To Xinwen Mining Group
Coal-to-gas and liquid-fuel developer Linc Energy Ltd says it is selling its Bowen Basin exploration tenements in Queensland to China’s state-owned Xinwen Mining Group for $1.5 billion.
Linc said it had signed a heads of agreement with Xinwen for the sale.
It said Xinwen will outlay an initial $150 million for the Emerald-based Teresa tenements, with the [...]
British giant B Group $12.9 billion bid for Origin Energy
BRITISH giant BG Group has launched the biggest-ever foreign takeover in the Australian energy sector with a $12.9 billion bid for Origin Energy.
The unsolicited bid, which will require the approval of the Foreign Investment Review Board, comes as companies from resource-hungry countries such as China pursue takeovers across the Australian mining and energy sector.
Origin Energy [...]
Australian coal prices reach record
Energy coal prices at the port of Newcastle, Australia, the world’s biggest export harbor for the fuel, rose 1.3 percent to a record on expectations of supply shortages in Asia and a disruption to deliveries from a Queensland State mine.
Coal for immediate delivery at Newcastle rose 96 cents to $76.95 a metric ton in the [...]
Xstrata 2006 Net Rises 14 Percent on Metals Prices (Update7)
Xstrata Plc, the world’s fourth- largest copper and nickel producer, said full-year profit rose 14 percent to a record after metal prices surged.
Net income advanced to $1.95 billion on a consolidated basis, or $2.39 a share, from $1.71 billion, or $2.27, a year earlier, the Zug, Switzerland-based company said today in a statement. Profit based [...]
