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Gujarat NRE Sees Coking Coal Orders at Above $200/T
Metallurgical coke producer Gujarat NRE Coke expects long-term coking coal price contracts to be signed “anytime now” at over USD 200 per tonne, its managing director told Reuters on Tuesday.
Coking coal producers re-negotiate prices every year by January, but a spike in prices this year extended negotiations beyond the customary closure, Managing Director Arun Kumar [...]
Nomura Holdings Inc Research : Iron Ore Contract Prices and Coking Coal has doubled in 2010
Nomura Holdings Inc. reported the results of research on changes in iron ore contract prices in 2010. Nomura Holdings estimated contract iron ore prices in 2010 will increase by 70%. While banking institutions estimate the iron ore price will rise 40% – 50%.
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 [...]
Coal Prices Hits, Gloucester Coal Reported Net Income Decline 59 percent
Takeover target Gloucester Coal has posted a sharp fall in first-half profit, mainly because of a fall in the coal prices, and will not pay an interim dividend.
However, it says volumes and margins remain healthy and new markets are being identified to diversify sales.
Gloucester reported yesterday a 59 per cent drop in net profit to [...]
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 [...]
Environmentalists Continued Protests Mountaitop Coal Mining Exploration
Environmentalists call it mountaintop mining – the process of removing the mountain surfaces to extract as much coal as possible, then placing the excess material in surrounding valleys. It keeps utility prices down and brings money into the state, but hundreds of environmentalists rallied in Frankfort Thursday, saying it’s not worth it because it destroys [...]
State Of Montana Reject Offers Coal Mining Exploration at Otter Creek Coal Mine
Montana state government rejected offers from mining companies for coal mining exploration in the area of Otter Creek Powder River County, because the bids submitted by companies under the standards set by Montana’s Land Board. Bidding requirements provided by the state is the minimum bid $ 143 million, or 25 cents per ton, 12.5% of [...]
