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Sasol Coal Mining Company to Build New Coal Mine Exports
Coal mining company Sasol has allocated R3,1-billion for the new export coal mine to replace the depleting Twisdraai operation.
The Thubelisha export coal mine, already under construction, will also supply Sasol’s synfuels factory in Secunda, in Mpumalanga province.
Sasol Mining’s output in the six months to December 31 was up 6%, but its profit of R170-million was [...]
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 [...]
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.
Mining Trade Review : Gold, Copper and Nickel Improve as US Dollar Eases Against Euro
Gold mirrored crude oil’s movement and also got close to Monday’s levels, standing just short of US$1,120/oz on Saturday after slipping below US$1,100/oz during the week amid stronger US dollar.
The US dollar was under pressure on Monday and Tuesday following last week’s move by the Federal Reserve, which hiked the discount rate by 25 basis [...]
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 [...]
Canada Stocks Fluctuate as Gold Mining Companies Slips, Energy Producer Rise
Canadian stocks swung between gains and losses as energy producers rose and gold mining companies fell as the precious metal retreated from a four-week high.
Canadian Natural Resources Ltd., Canada’s second-largest energy company by market value, advanced 0.8 percent after analyst Brian C. Dutton of Credit Suisse Group AG raised his rating on the stock to [...]
American Lithium Closes Agreements to Acquire Exploration Lithium Brine Project in Utah
American Lithium Minerals, Inc. announced today that it has closed an agreement with Nevada Mining Co. Inc. to acquire three Exploration Lithium Brine Projects in Nevada and one Lithium Brine Project in Utah. The Nevada Lithium Brine Projects are the Sarcobatus Deep Project, Teels Marsh Deep Project, and Fish Lake Deep Project. The Utah Lithium [...]
Future of Global Steel Industry and Changes Iron Ore Prices 2010
Steel companies in several countries concerned about changes in iron ore prices in 2010. Because of the possibility of iron ore prices in 2010 will rise sharply. Some company’s largest iron ore mining has provided a statement of the plan to raise iron ore prices up to 40%. If there is iron ore price increase, [...]
Australia-based Mining Company IRL to Develop Biharinath Coal Mine, West Bengal
IRL, Australia-based mining company has signed a letter of intent with Bankura DRI to develop and operate coal mines Biharinath. Contract operation and development of coal mines Biharinath will last for 30 years at a cost of AUD $ 500m investment. Biharinath coal mines located in the Indian state of West Bengal.
