Coal Investing News

European Coal Price Slump May Have Reached an End

Charlotte McLeod — Wed, 22 May 2013 17:17:29 +0000

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.

India to Import 8.7 Percent More Coal in Next Two Years

Charlotte McLeod — Wed, 22 May 2013 17:09:05 +0000

The Economic Times reported that from 2013 to 2014, India is expected increase its coal imports by 8.7 percent, to 35 million metric tons, as its steelmaking capacity rises.

Australia’s Coal Giants Seek to Shed Port Assets

Charlotte McLeod — Tue, 21 May 2013 17:39:32 +0000

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.

Will China’s “Control Coal” Policy Impact the US?

Charlotte McLeod — Mon, 20 May 2013 11:00:17 +0000

China's "control coal" policy may not bode well for the United States, which plans to ship the fossil fuel to Asia via West Coast terminals.

James River Coal Shares Rise to Highest Level in Two Months

Charlotte McLeod — Fri, 17 May 2013 17:49:30 +0000

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."

Forbes & Manhattan Coal Files Technical Report on SEDAR

Charlotte McLeod — Thu, 16 May 2013 18:02:18 +0000

Forbes & Manhattan Coal Corp. (TSX:FMC) announced that it has filed on SEDAR a new technical report regarding its South Africa-based coal operations.

Expect More Strikes at Port Waratah Coal Services’ Export Terminals

Charlotte McLeod — Wed, 15 May 2013 17:05:17 +0000

Platts reported that more 12- and 24-hour strikes at Port Waratah Coal Services' coal export terminals, located at the Australia-based Newcastle port, have been endorsed by union-affiliated workers.

Erdenes Tavan Tolgoi to Start Mining Mongolia’s West Tsankhi

Charlotte McLeod — Wed, 15 May 2013 16:56:40 +0000

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).

Glencore Xstrata Abandons Plans for Queensland Coal-shipping Facility

Charlotte McLeod — Mon, 13 May 2013 17:22:58 +0000

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.

Sichuan Coal Production Halt Shouldn’t Affect Coal Prices Nationwide

Charlotte McLeod — Mon, 13 May 2013 17:14:26 +0000

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.