News of CALPERS Potentially Divesting its Coal Assets Overdone

News of CALPERS Potentially Divesting its Coal Assets Overdone

On December 15, news outlets announced that a California state senator might propose a bill in January that would require the California Public Employees’ Retirement System to divest of its holdings in companies that produce coal. This headline-grabbing news sent coal stocks and ARLP partners down significantly. However, Peter Epstein thinks that the reaction was possibly overdone.

Coal India Workers Still Planning to Go on Strike?

Less than two weeks after unions representing workers at Coal India called off an earlier strike, workers are gearing up for another strike aimed at opposing opening India up to commercial coal mining.

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Company News

SouthGobi Makes Management Changes

SouthGobi Resources Ltd. (TSX:SGQ) announced that President and Chief Executive Officer Ross Tromans will be replaced by Enkh-Amgalan Sengee, effective December 12, 2014.

Realm Saves Costs at Indonesian Project

A review of the operating cost assumptions used in the feasibility study and the valuation for Realm Resources Limited's (ASX:RRP) 51-percent-owned thermal coal project in Central Kalimantan has resulted in a 20-percent reduction in the proposed free-on-board cash cost over the project’s mine life.

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Market News

South Africa to Sign Fuel Deals to Tackle Power Crisis

The South African cabinet has announced it will sign a private sector coal-fired power plant deal to overcome electricity shortages. The cabinet also declared that the country will increase its diesel and gas imports.

Australia May Sell Coal, Uranium to Ukraine

Mining Weekly reported that Tony Abbott, Australia's prime minister, has raised the possibility of his country exporting coal and uranium to Ukraine. The move could help Australia lower its dependence on Russian gas.

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