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 [...]
Read the full article: "South Africa Negative on 2010 Coal Export..."
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"
Wednesday, May 26, 2010
When US coal giant Peabody reduced its bid for Australia’s Macarthur Coal by 6.3 per cent, the newly-announced Australian resources tax was easy to target as a scapegoat. Click here to access the entire Editorial
Read the full article: "Financial Times reported on Coal’s China..."
Wednesday, May 26, 2010
Hunnu Coal (ASX: HUN) has announced its acquisition of 90% interest in the Tsant Uul Coal Project. The company aims to become a major producer of coal coming from the South Gobi coal province. The press release is quoted saying: “Based on this drilling the Company has estimated an Exploration Target* of 50Mt and 100Mt [...]
Read the full article: "Hunnu Coal Acquires 90% of Tsant Uul Coal..."
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 [...]
Read the full article: "13 Coal Miners Bid $4.85 Billioln for..."
Tuesday, May 25, 2010
Cliffs Natural Resources (NYSE: CLF), US coal and iron-ore miner, plans to acquire TSX-Venture Exchange-listed KWG Resources and TSX-Venture Exchange-listed Spider Resources for a combined C$186-million in the hopes of owning marjority of the Big Daddy chromite project. Cliffs Ferroalloys president William Boor is quoted saying: “However, obtaining control of Big Daddy would enable Cliffs [...]
Read the full article: "Cliffs Wants Majority of Big Daddy Chromite..."
Tuesday, May 25, 2010
Central Petroleum Limited (ASX:CTP) has announced that its wholly-owned subsidiary company, Merlin Coal Pty Ltd has made three new applications under the Mining Act of the Northern Territory. The application covers 3,000 km2 in Pedirka Basin in central Australia. John Heugh, Central’s Managing Director is quoted saying: “Publically released results of the 2009-2010 coal seam [...]
Read the full article: "Central Petroleum Announces Application in..."
Monday, May 24, 2010
Eastern Star Gas Limited (ESG), an Australian gas and coal seam gas (CSG)(1) development company has announced their agreement with Hitachi, Ltd. (NYSE:HIT/TSE:6501, “Hitachi”) and Toyo Engineering Corporation (TOYO) to do a feasibility study for an electric-motor-driven Mid-Scale LNG plant in Newcastle in the state of New South Wales, Australia. Click here to access the [...]
Read the full article: "Eastern Star Enters MOU with Toyo Engineering"
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"
Friday, May 21, 2010
John Wallington who joined Firestone in November to lead the bankable feasibility study (BFS) of the Waterberg coal project in South Africa has announced that it would now step down coal junior Firestone Energy MD. Firestone is quoted saying: “Wallington will continue to be a board member and will devote such time as is necessary [...]
Read the full article: "Wallington Steps Down as Firestone MD"
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Thursday, May 27, 2010