Australian innovative energy company Linc Energy Ltd. announced late Thursday that it has agreed to sell its Teresa coal exploration permits to China-based Xinwen Mining Group for A$1.5 billion. The company had revealed in July that it intends to sell the Teresa coal deposits. Following the announcement, the Linc Energy stock is climbing nearly 41% […]
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, were little changed last week as supply constraints at a storm-affected port in Vietnam offset declines in the price of oil.
The weekly index for power-station coal prices at the New South Wales state port fell 26 cents, or 0.2 percent, to $161.89 a metric […]
Australian Mining Boom Stokes Profits, Narrows Record Deficit
Australia’s mining boom, stoked by Chinese demand for coal and iron ore, helped boost company profits by the most in more than seven years and narrow the nation’s current account deficit from a record.
Company profits advanced 14.3 percent in the second quarter, more than six times the 2.3 […]
The South Korean company may also develop a coal deposit and transmission facilities as part of the power project, and expand into electricity sales, the Seoul-based company said today in an e-mailed statement.
Daewoo International Corp., a South Korean trading company, may invest about $300 million in a coal- fired power project in Madagascar, the company’s […]
Marius Kloppers is determined to win his $127bn battle to merge BHP Billiton and Rio Tinto, but must beat regulatory hurdles - and Rio’s opposition. Ruth Sunderland met a late starter who could become one of the globe’s most powerful men.
Marius Kloppers, chief executive of mining giant BHP Billiton, could be the patron saint of […]
A record quantity of coal extraction is expected at the Bulgarian “Bobov Dol” coal mine, according to the Assistant Manger of the company “Coal Extraction Bobov Dol”, Ogniyan Zarev.
Zarev spoke Saturday before Darik radio. The Assistant Manger further explained that despite the record extraction, the price of BGN 198 with VAT (Value Added Tax) for […]
Pike River Coal (PRC) expects to crank up to 150 staff by June next year when it plans to be in full production.
The West Coast underground coal mine in the Paparoa range, 46km north of Greymouth, posted a loss of $1.14 million yesterday for the year to June 2008.
That reflects the mine still being in […]
It has been another bumper year for Anglo-Australian mining giants BHP Billiton and Rio Tinto as the arm-wrestle over a hostile takeover bid intensifies.
Both companies are using exceptional profits, fuelled by China’s insatiable demand for Australian resources, to press their respective claims in this long-running merger saga.
Rio Tinto has used its strong half-year results to […]
It’s like coal-mining,” BHP Billiton CEO Marius Kloppers says of potash-mining.
Demand for potash has surged, driving prices into orbit, after the market spent the last three decades in surplus, with the last new mine being built more than 20 years ago.
Kloppers says that, just like coal-mining, a continuous miner is installed and basic board-and-pillar mining […]
Pike River Coal has reported a $1.14 million loss for the year to the end of June, which the company said reflected the development phase of its new mining operation and related one-off costs.
First production of premium hard coking coal from the new Pike River mine under the Paparoa Range on the West Coast was […]