India NTPC may buy stake in Australian coal mines
India’s NTPC Ltd (NTPC.BO), the country’s top power utility, is looking to buy stakes in coal mines in Australia.
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South Africa Negative on 2010 Coal Export Goal
Thursday, May 27, 2010
South Africa will not be able to reach its 65 million tonnes of coal exporting expectations for 2010 due to the transport strike that has crippled rail and ports. This is according to the Richards Bay Coal Terminal (RBCT). RBCT Chief Executive Raymond Chirwa is quoted saying: “On average we could be receiving 1.3-1.4 million [...]
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BHP Requests 10% Coal Price Hike
Thursday, May 27, 2010
Sumitomo Metal Industries, Japan’s third-biggest steelmaker said that BHP Billiton Ltd (BHP:ASX) has requested for more than 10% rise in the price of coking coal for the July-September quarter. Takeshi Osawa, senior fund manager at Norinchukin Zenkyoren Asset Management is quoted saying: “The rebounds of stocks are weak, meaning the news of the price hikes [...]
Read the full article: "BHP Requests 10% Coal Price Hike"
13 Coal Miners Bid $4.85 Billioln for Queensland Rail Network
Wednesday, May 26, 2010
13 coal producers, including BHP Billiton and Rio Tinto made a fully funded offer of A$4.85-billion to buy the Queensland Rail (QR) coal track network. Nick Greiner, the chairperson of the Queensland Coal Industry Rail Group (QCIRG) is quoted saying: “Our offer is able to be settled with the government prior to the IPO, and [...]
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Indonesia’s Coal 2010 Output Up by 20Mt
Monday, May 24, 2010
Indonesian Coal Mining Association chairman talked to the Mining Association on Monday that Indonesia is expecting a total coal ouput to reach 320 million tonnes this year, compared to only 300-million tonnes it produced in 2009. Indonesian Coal Mining Association chairman, Bob Kamandanu is quoted saying: “Coal demand is bullish, especially from China and India [...]
Read the full article: "Indonesia’s Coal 2010 Output Up by 20Mt"
AFS, Approved Fuel Supplier for BHP
Friday, May 21, 2010
The coal export giant, BHP Billiton’s Douglas-Middelburg optimisation (DMO) project has contracted AFS Group (Pty) Ltd to supply its fuel monitoring technologies and expertise to BHP. AFS have been supplying for all all of BHP’s collieries and will now include the DMO project site. AFS Group GM Pradil Maharaj is quoted saying: ” We oversee [...]
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Vale Inco’s Increase Shareholding in Beleverde JV
Wednesday, May 19, 2010
Vale Inco is a wholly-owned subsidiary of Vale (Vale S.A.) of Brazil, has confirmed that it plans to increase its shareholding with partner Aquila Resources of Beleverde coal joint venture (JV) in Australia from 51% to 75.5%. When all feasibility studies and regulatory approval has been completed the Belverde project will start coal exportation by [...]
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Twin Mine Death Toll in Russia Rises to 32
Tuesday, May 11, 2010
After the blast in Russia’s largest coal mine Monday there are still 58 miners missing and the head of rescue has faded any glimpse of hope of finding more lives under the rubble. Emergencies Minister Sergei Shoigu reported to President Dmitry Medvedev by video link: “The rescue work is continuing of course, but unfortunately the [...]
Read the full article: "Twin Mine Death Toll in Russia Rises to 32"
Noble Group Coal Price Rises
Friday, May 7, 2010
Commodities supplier Noble Group Ltd., which is part-owned by China Investment Corp., confirmed 2009 Q1 profit increase of 28 percent for coal, iron ore, and aluminum owing to the country’s economic recovery. The press release is quoted as saying: Net income increased to $115 million, or 2.86 cents a share, for the three months ended [...]
Read the full article: "Noble Group Coal Price Rises"
Peabody Energy Reports First Quarter 2010 EBITDA of $357.2 million
Wednesday, May 5, 2010
Peabody Energy (NYSE: BTU) is happy to announce its operating profit increase of 10% above the prior year to $357.2 million from $242.2 million. Their sales for Q1 of 2010 rose up to 58.3 million tons. Their revenue increased to $1.52 Billion, which is a 4% increase from the last quarter of 2009. Peabody Chairman [...]
Read the full article: "Peabody Energy Reports First Quarter 2010..."
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Thursday, June 17, 2010