MicroCoal Technologies Up 13 Percent on JV Announcement

MicroCoal Technologies Up 13 Percent on JV Announcement

MicroCoal Technologies ticked upward on the news that it has partnered with an affiliate of Hong Kong's Jiu Feng Investments in order to help advance its processes in Asian markets. MicroCoal has developed patented clean coal upgrading technology to improve the usability of lower-rank coals.

Court Ruling Hits Indian Coal Market

India has finally followed through on its threat to cancel coal mine permits, with 98 percent of permits given to companies in the last 20 years officially cancelled.

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Company News

BHP To Build Indonesia’s Largest Coal Mine

BHP Billiton (NYSE:BHP) and its partner PT Adaro planning to build the largest coal mine in Indonesia, according to the Epoch Times. BHP will own 70 percent of the mine.

Peabody Energy Says Sales Limited by Rail Conjestion

Bloomberg reported that US Coal Producer Peabody Energy (NYSE:BTU) is blaming rail congestion from delivering more coal. The producer was hoping to capitalize on higher demand from American utilities companies.

MicroCoal Technologies Secures China Partnership

MicroCoal Technologies (CSE:MTI) has entered a joint venture agreement with an affiliate of Jiu Feng Investments. The agreement will see the creation of a corporation domiciled in Hong Kong, in which MicroCoal will hold a 51 percent equity interest and a majority position on the board of directors.

Peabody Energy Reports Bigger Losses

The Wall Street Journal reported that Peabody Energy (NYSE:BTU) recorded bigger losses for its September quarter, year over year, mostly on the back of weak coal prices.

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Market News

Australia to Be Exempt From New China Coal Tariffs

Reuters reported that Australia and China are aiming to sign a free trade agreement that will see Australia exempt from China's recently implemented coal tariffs.

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