Volatility in New Zealand’s sharemarket came home to roost for coking coal mine producer Pike River Coal whose dream share run came to abrupt halt yesterday after gaining nearly 50% in value in the past month.
Pike River shares have steadily risen 48%, from $1.67 on May 30 to trade around $2.47.
However, yesterday they fell more […]
These are boom times for mining companies but the big profits are being eaten into not only by spiraling energy costs but suddenly rising prices for the explosives used to blast into the rocks.
It’s all because of the high price of natural gas, which when converted into ammonia is used to produce ammonium nitrate, […]
Shenhua Energy Co Ltd , China’s largest producer of coal, sold 19.4 percent more in May than a year ago, as it fed the world’s largest energy consuming nation and raced to meet shortfalls.
The firm produced 13.3 percent more coal last month, or 15.3 million tonnes, it said in an exchange filing on Monday, and […]
Rocketing prices for coking coal and iron ore, the two main components of steel, have left steelmakers shell-shocked. But the price spikes have lit a “For Sale” sign atop the coal mining sector, and a range of assets could change hands this year.
Some of the world’s biggest steelmakers, after divesting their coal and iron ore […]
This week crude oil spiked 8% higher Friday into the high $130s; Senator Barack Obama cinches the Dem-Nom; an Israeli official says that bombing Iran’s nuclear facilities looks inevitable; the U.S. unemployment rate pops half a full percentage point to 5.5%; the buck gets thumped despite Bearded Ben’s early-week fireside chat (where he uncharacteristically mentioned […]
News today in Bloomberg reported, BP Inc. Kwinana’s reopening coal mine exploration in Western Australia. BP bid to minimize the effects of a two- month energy shortfall. Before this station, 30 percent reduction in its natural-gas output after a plant exploded.
The 120 megawatt Kwinana No. 1 plant, previously closed down for about two months for […]
Australia’s Newcastle port is assessing whether to lift restrictions on ship movements as the world’s biggest coal-export harbor faces a second night of high seas and strong winds.
Ships off the coast are experiencing winds of 30 kilometers an hour (18 miles an hour) and seas of up to 6 meters, according to a government statement […]
Vietnam exported 32.5mil tonnes of coal last year, reaping $1.018bil. However, if it imports coal to run thermopower plants now, the said amount of money is just enough to buy back 7.5mil tonnes.
Since 2004, the volume of coal Vietnam has exported has increased by five-fold, reaching $32.535mil tonnes last year. This does not include the […]
Officials from Coal India Ltd., a state-owned monopoly, will next month visit Mozambique to examine a coking-coal mine the company plans to acquire along with Steel Authority of India Ltd. and three other government-run companies.
“A team is scheduled to go to discuss technicalities and other details,” Chairman Partha Bhattacharyya said today in an interview from […]
While the world waits for news about the outcome of Zimbabwe’s elections, Zimbabwean newspapers at the weekend reported that Robert Mugabe’s Zanu-PF planned to seize foreign-owned mines to win over votes.
Across the front page of The Zimbabwean yesterday were splashed headlines suggesting that Mugabe had set his sights on foreign-owned mines after running “out of […]