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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 [...]
BHP Billiton Reached Agreement Coking Coal Sales with Europe and Asia Costumer
Coking coal mining company BHP Billiton has reached a deal volume of hard coking coal sales to customers in Europe and Asia for the year 2010. Asian countries agree on the purchase of coking coal from BHP Billiton, among others, China, India and Japan. All three countries are the largest steel producers in Asia and [...]
Steel Company Arcelormittal Plans Iron Ore Purchases Increased In 2010
Indian steel maker, ArcelorMittal planning to increase purchases of iron ore in 2010. Increased purchases of iron ore in anticipation of shortage of iron ore that will be used to produce metal, special steel production. ArcelorMittal is also trying to improve its self-sufficiency in coking coal by 20 percent to 25 percent, from 15 percent.
Coal Exporter Macarthur Coal To Purchase Offer Gloucester Coal
Largest coal exporter in the world, Macarthur Coal Ltd. plans to buy a coal mining company to expand the exploration of coal mining operations in Australia. Mining companies to be bought by Macarthur Coal is the Gloucester Coal.
Macarthur Coal expects the purchase of Gloucester will provide the production control of coal mines for power generation [...]
Higher Demand For Iron Ore Expected From China, Japan And The EU
Demand for iron ore and coal is expected to grow next year, reflecting higher steel production, pushing Australia’s output close to capacity.
The Australian Bureau of Agricultural & Resource Economics said world trade in iron ore would increase by 8 per cent to 987 million tonnes in 2010, compared with an estimated rise of 2 per [...]
South Africa Coal Price Jumps To Ten-Month High
Prices for coal shipped from South Africa’s Richards Bay, site of the continent’s biggest export facility for the fuel, rose to a ten-month high on Asian demand and orders before the year-end holidays.
Export prices increased 96 c, or 1,4 percent, to an average of $68,45 a metric ton in the week ended December 11, according [...]
Rio Tinto Group Estimates Iron Ore Production Rose 7.5 Percent
Largest mining company Rio Tinto would predict an increase in iron ore demand from steel makers. Therefore, Rio Tinto will increase iron ore production of 7.5 percent. Rio Tinto iron ore will produce up to 210 million to 215 million metric tons in the second and third quarters. Production of iron ore was sourced from [...]
Selling Price Of Thermal And Coking Coal Expected To Increase In 2011
Selling price of thermal coal and coking coal is expected to rise in the year 2011. Mining trade analyst, Warren Edney estimated sales price of thermal coal to reach $ 75 per metric ton in 2011, while coking coal will be sold at $ 150 in the same period, an estimated increase in sales of [...]
Petrol And Coal Offset Iron Decline In Strong June Result
BHP Billiton has delivered stronger than expected June quarter results, with higher petroleum output, aided by a resurgence of Bass Strait oil production, and coking coal offsetting a fall in iron ore production.
