Coal Company News Directory

Tuya Obtains Final Approval for Arrangement with Colonial Coal International

Colonial Coal International Corp. (TSXV:CAD) and Tuya Energy Inc. announced that Tuya has obtained a final order of approval from the Supreme Court of BC for the arrangement that will see Colonial acquire all of the issued and outstanding common shares of Tuya. This announcement follows the approval the companies received from shareholders at meetings held on March 19, 2015.

Colonial Coal and Tuya Energy Shareholders Approve Arrangement

Colonial Coal International Corp. (TSXV:CAD) reported that shareholders of the company, as well as shareholders of Tuya Energy Inc., approved the plan of arrangement whereby Colonial will acquire all of the issued and outstanding common shares of Tuya. Each Tuya shareholder will receive 0.5 of a common share of Colonial for each Tuya Share held. Subject to receipt of all approvals, the transaction is expected to close on or about March 31, 2015.

Russia’s Leading Coal Producer Could be Going Under

Though some may have seen it coming for awhile, Russia's Mechel (NYSE:MTL) is reportedly heading straight for bankruptcy, according to a report from Forbes. The miner's stock dropped roughly 31 percent on the New York Stock Exchange on Monday to hit $1.05.