Australian miner Macarthur Coal Ltd cut its first-half profit forecasts and said it would curtail production amid a global slowdown in demand, sending its shares down 20 percent. For full story, click here
GMR Group plans to buy 100-150 million tonne capacity coal mine in Indonesia to feed 1,500 megawatt power generation capacity for 20 years. For full story, click here
Coal exports from Australia’s Newcastle port jumped 22 percent from the previous week to a six-week high, while the number of ships arriving at the port also held near its highest level since early November. For full story, click here
Steel manufacturers, both in private and public sectors, have started renegotiating coking coal prices with overseas suppliers, mainly those in Australia, in view of present economic slowdown hitting the steel industry. For full story, click here
China’s coal prices at Qinhuangdao, a domestic benchmark, fell by 30% in a month because of weaker demand for the fuel. For full story, click here
Alliance Resource Partners, L.P. and Alliance Holdings GP, L.P. announced that Joseph W. Craft, III, President and Chief Executive Officer, will make a presentation at the 1st Annual Raymond James Coal Investors Conference in New York City at approximately 8:30 a.m. Eastern time on Thursday, December 4, 2008. For full story, click here
It is reported that Heilongjiang LongMay Mining Group, the largest coal enterprises in northeast China, produced 45.54 million tonnes of raw coal. For full story, click here
NTPC Ltd, has switched to linking coal imports with global indices, from an earlier fixed-price system, so as to gain from falling prices, government and company officials said. For full story, click here
Rio Tinto Group may have to cut contract prices by a third next year because of slumping demand from steelmakers, according to a survey of analysts. For full story, click here
GMR Group plans to buy 100-150 million tonne capacity coal mine in Indonesia to feed 1,500 megawatt power generation capacity for 20 years. For full story, click here
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