China's "control coal" policy may not bode well for the United States, which plans to ship the fossil fuel to Asia via West Coast terminals.
Coal India's inability to supply adequate coal to India's electricity providers is causing power shortages in the energy-hungry nation.
Investors nervously watched this week to see if coal producers would be weighed down by bad weather and higher taxes.
Japan is joining Asia’s battle for coal resources.
The Wall Street Journal's Asia MoneyBeat reported that major coal miners operating in Australia — like Glencore Xstrata plc (LSE:GLEN) and Yancoal Australia Ltd. (ASX:YAL) — are eager to auction off port assets worth "tens of millions of dollars" that were hot assets only a year and a half ago. That indicates that they are not confident that coal prices will rebound in the near future.
Bloomberg reported that shares of James River Coal Co. (NASDAQ:JRCC) rose to a two-month high, gaining 16 percent to reach $2.58, following the company's decision to exchange around "$243.4 million of convertible bonds for $123.3 million of new notes due in 2018."
Forbes & Manhattan Coal Corp. (TSX:FMC) announced that it has filed on SEDAR a new technical report regarding its South Africa-based coal operations.
Bloomberg reported that this year, Erdenes Tavan Tolgoi LLC will start mining the West Tsankhi coal area, located in Mongolia, in order to get out of debt and pay off Aluminum Corporation of China Ltd. (NYSE:ACH).
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.
Platts reported that more 12- and 24-hour strikes at Port Waratah Coal Services' coal export terminals, located at the Australia-based Newcastle port, have been endorsed by union-affiliated workers.
Bloomberg reported that China has suspended production at all Sichuan coal mines following a May 11 explosion that killed 28 workers and injured 18 others. The stoppages are not likely to affect coal prices nationwide.
People's Daily Online reported that as many as half of the coal companies in Ordos, which is "one of the major domestic coal producing regions in the Inner Mongolia autonomous region," have reduced or halted coal production due to falling electricity consumption and increased use of hydropower.
New Delhi Television reported that the Supreme Court of India believes that "the heart" of the Central Bureau of Investigation's (CBI) Coalgate report draft was altered as a result of government suggestions. That's in contrast to the CBI's claim that the "central theme of the status reports have not changed."