Why Commercial Coal Mining Won’t Solve India’s Energy Problems

Why Commercial Coal Mining Won’t Solve India’s Energy Problems

As many investors have no doubt heard, there have been indications that the Indian government may break state behemoth Coal India's monopoly on the domestic coal market by allowing foreign miners to set up shop in India. However, some believe the move may not be the answer to India's energy woes.

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.

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

Consol Energy Increases Revenue by 10 Percent

Consol Energy (NYSE:CNX) saw revenues increase by 10 percent last quarter, according to coalguru.com. Higher costs took out some of that profit, but still, the company posted a significantly narrower loss for the quarter in a year over year comparison.

Teck Resources Reports Earnings Drop on Lower Met Coal Prices

The Globe and Mail reported that Canada's Teck Resources (TSX:TCK.B) saw a decrease in its quarterly earnings. The drop was largely due to lower metallurgical coal prices, but also because of a fall in copper production.

CanAm Coal Explores Strategic Alternatives

CanAm Coal Corp. (TSXV:COE) announced it is considering a diversification strategy and alternative opportunities in order to generate additional shareholder value.

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Market News

India May Open Commercial Coal Mining to Foreign Companies

In a bid to tackle the India's coal supply shortage - which happens despite the country sitting on the world's fifth largest coal reserves - Prime Minister Narendra Modi is considering opening up commercial coal mining to foreign companies, according to Reuters. Companies like Rio Tinto (NYSE:RIO) would be allowed to operate in India if they set up units in the country.

US to Close Loophole That Helps Coal Export Profits

The US government is planning to tighten up rules surrounding coal exports since the discovery of a loophole that has allowed companies to boost profits, according to Reuters.

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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