The future does not look good for coal miners as increasing government regulations, environmental concerns and public opinion in favor of energy alternatives threaten the resource's market share.
Proximity to China, once an asset for SouthGobi Resources, has become a disadvantage now that the country is curbing its use of the fuel.
Diamonds are Botswana's top export, but its reserves of the gems will reportedly be depleted by 2029.
In the final chapter of the Coal 101 series, an overview of sub-bituminous coal is presented.
Coalview Ltd., LLC (“Coalview”), America's leading fully integrated coal technology and fine coal recovery company providing technology and environmental solutions for mining property owners, today announced that it has purchased a 200 tons per hour (TPH) all-electric coal dredge from Rohr-Idreco Dredge Systems headquartered in New Richmond, Wisconsin as the primary dredging unit for its newest fine coal recovery project near Centralia, WA.
CBC reported today that Teck Resources Ltd. (TSX:TCK.B) will delay the start of its Quintette coal mine in Tumbler Ridge, BC. Teck also plans to cut 600 jobs worldwide after posting profits amounting to less than half of what it made in last year’s first quarter.
The Guardian reported today that two workers were killed in a mine collapse on Tuesday night. A wall collapsed in the New South Wales Austar coal mine just after 9 pm, trapping the two men.
MicroCoal Technologies Inc. (CNSX:MTI) closed the first tranche of its previously announced non-brokered private placement for US$277,963, consisting of an aggregate of 1,389,815 units, priced at US$0.20 per Unit.
Fortune Minerals Ltd. (TSX:FT) Investor Relations Manager Troy Nazarewicz spoke to Resource Investing News at the Vancouver Resource Investment Conference about its two advanced projects: NICO gold-cobalt-bismuth-copper deposit in the Northwest Territories, and the Arctos Anthracite project in British Columbia.
Saturn Minerals Inc. (TSXV:SMI) Director Stefan Szary spoke with Resource Investing News about his company's coal, oil and gas assets in Saskatchewan. Mr. Szary said that investors should consider Saturn Minerals because "we have one of the largest coal seams in Canada: 89 meters, shallow, right by a rail, and in the course of that, we have oil and gas seeps and 1500 square kilometres of oil and gas rights as well, in the Williston Basis."
At the 2013 Vancouver Resource Investment Conference, Carl Kottmeier, Project Manager for Fortune Minerals (TSX:FT) Arctos Anthracite Project, took some time to speak with INN Editor Vivien Diniz.
Bloomberg reported that Australian mining companies are producing and exporting coal at a loss due to take-or-pay contracts with freight companies.Losses from exporting coal at current low prices are much less than what it would cost to default on the freight agreements.
Reuters reported today that U.S. rail shipper Norfolk Southern (NYSE:NSC) reported a drop of 18 percent in profits for the first quarter of 2014, largely due to a 15 percent fall in earnings from coal shipments. However, Norfolk Chief Executive Wick Moorman told Reuters that the company expects a rebound following this quarter.
The Globe and Mail reported that a slump in coal prices is hurting mining in British Columbia and has caused US-based Walter Energy Inc. (NYSE:WLT) to cease mining operations in the province.
Forbes reported today that three major regulatory changes will go into effect this spring, forcing power plants that use coal to upgrade operations or close them down. US coal users will thus have to look at new, superior coal technologies to move forward.