Lincoln Gold U.S. Corp., a subsidiary of Lincoln Mining Corp. has signed a Letter of Intent with ADGIS. Letter of Intent regarding acquisition of mining assets in the Imperial County, California. Mining assets include Cruz Oro gold mine. Payment of royalties from gold mining exploration worth U.S. $ 50,000 per year and will increase to U.S. $ 200,000 per year in the 7th year.
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Coal mining company Arch Coal reported sales gains in the third quarter decreased, due to falling coal prices. Mining companies estimate the demand for coal will increase, especially coal used for steel making. Increased demand for coal will increase next year, coal demand is expected to reach the 4 million tons.
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Consol Energy, the company’s coal producers, reported sales volume of coal fell on American power. The decline of coal sales volumes lead to lower corporate earnings in the third quarter, although margins improved company.
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Statistical reports, China coal exports down reaching the lowest number this year. The number of coal exports in September 2.02 million tons, compared to last year China’s coal exports could reach 2.08 million tons in September last year. Export monthly average fell more than 50% in the first eight months.
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Arch Coal has completed the acquisition of Rio Tinto’s Jacobs Ranch coal mine for a purchase price of approximately $764m, which includes an estimate for working capital adjustments. In 2008, Jacobs Ranch produced 42.1 million tons of sub-bituminous coal for sale to the US power generators.
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Coal India Ltd. (CIL), is a holding company under the coal ministry that contributes 85% of coal production in India and are free to fix the selling price of fuel, but only after prior approval from the government. The price of coal were last revised in December 2007 and the latest revision is expected to partially bridge the gap of international coal prices, which about a third higher.
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Alpha Natural Resources Inc.’s $2 billion acquisition of Foundation Coal Holdings Inc. gives the company access to low-cost Wyoming surface mines as stricter regulation makes work in Appalachia more costly. Read More…
Development of sector industry China results requirement of energy to support process industry experiences peninkatan. Alternative of to fulfill requirement of energy China does coal import in number which equal. Read More…
The last 15 days, coal stock at Qinhuangdao port, China’s major coal port, has remained at 3.6 million tonnes down by 4.4 million tonnes compared with the highest 8 million tonnes of the year. Read More…
The rise of coke trade, demand for coking coal is spurred, thus sales of coking coal have pointed to the upside and coking coal price has even edged up in some areas.
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