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Company News

Coalview Purchases Primary Coal Dredge for Centralia Project

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.

Teck Resources to Delay Opening of BC Mine as Part of Cost-cutting Measures

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.

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Company Videos

Fortune Minerals (TSX:FT) Troy Nazarewicz Talks Anthracite Coal in BC

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.

INN Video: Stefan Szary of Saturn Minerals Inc.

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."

Market News

Coal Surplus Continues to Rise as Australian Miners Continue to Export

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.

Norfolk Southern Reports Declining Coal Shipments, Posts Drop in Profits

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.

BC Coal Miners Take a Hit With Falling Prices

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.

US Coal Businesses Facing Legal and Regulatory Changes

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.

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