Coal Price Up 10 Percent as World’s Biggest Coal Port Remains Shut

Coal Price Up 10 Percent as World’s Biggest Coal Port Remains Shut

Australia's Newcastle Port, the largest coal port in the world, has been closed since Monday due to severe storms on the east coast of the country. The price of thermal coal for delivery next month from Newcastle has gone up 10 percent, to $68 per tonne, on the back of delays expected due to the storm.

5 Top Coal Stories for Q1 2015

The first quarter of 2015 didn't bring much relief for the coal price and coal companies.

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Jonny Sultoon Talks Coal Price and Coal Market Outlook at PDAC 2015

At PDAC, Resource Investing News spoke with Jonny Sultoon of Wood Mackenzie about some of the key factors driving the coal market. Overall, he sees "possible price floors being reached" in 2015, with met coal sitting around $114 to $116 per tonne and spot Newcastle thermal coal prices coming in at $62 to $64 per tonne.

Company News

Court of Justice of Mongolia Declares SouthGobi Sands and Former Employees Guilty of Tax Evasion

SouthGobi Resources Ltd. (TSX:SGQ) announced the re-investigation by the State Investigation Agency into alleged violations of Mongolian taxation law against three former employees of SouthGobi Sands LLC and against SGS as "civil defendant" had been completed and that the case had been transferred back to the Second District Criminal Court of Justice for trial.

Cliffs Planning to Sell North American Coal Segment

Mining Weekly reported that Cliffs Natural Resources (NYSE:CLF) is planning to sell its North American coal business. The company said that part of its business had become noncore and nonstrategic.

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Company Videos

Morien Resources Looks to Purchase Other Royalties in 2015

Morien Resources Corp. (TSXV:MOX) CEO John Budreski, spoke to Resource Investing News at the Vancouver Resource Investment Conference 2015 about the Donkin Coal Project in Nova Scotia, Canada.

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

Indonesian Coal Miners Diversify as Cash Runs Out

Mineweb reported that Indonesian coal miners are diversifying into other businesses to counteract the dip in their cash flows caused due to a collapse in demand from China.

Coal Workers in Berlin Protest against Climate Tax

Reuters reported that thousands of coal miners and workers in coal-fired plants in Berlin protested against the climate tax levied on the oldest, most polluting power stations, saying it could lead to massive job losses and the decline of the coal industry in Germany.

Hunter Valley Storm Forces Closure of Coal Mines

Australian Mining reported that coal mines in the Hunter Valley are slowly returning to production after being forced to shut due to severe storms earlier this week.

China’s Coal Miners Make Double Digit Gains

Reuters reported that China’s top coal miners have made double-digit gains over the past six weeks, outshining rival producers including U.S.-listed Peabody Energy.

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