A Vancouver native, Charlotte recently graduated from Simon Fraser University, where she majored in English and Humanities. During her time there, SFU’s Writing and Communications program caught her attention, and she began working towards a Certificate in Editing. After completing an editorial internship at Vancouver’s Western Living magazine in the fall of 2010, she knew that she wanted to pursue editing further.
Charlotte is excited to have joined the Investing News Network as an editorial assistant, and looks forward to gaining more knowledge about the commodities sector. She plans to complete her certificate in the spring of 2013.
Bloomberg reported that the slump in European coal prices — the longest in at least eight years — looks set to end on the back of falling imports from the United States and production cuts in Russia and Poland.
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.”
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).
The Wall Street Journal reported that Glencore Xstrata plc (LSE:GLEN) is going to shelve its plans for a new coal export terminal in Queensland, Australia. The decision reportedly comes on the back of the company’s concern about the medium-term outlook for the coal industry.
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.