Coal, whose surging price has outpaced crude oil and natural gas, could double this year.When heavy rains and flooding cripple two million metric tons of thermal coal production at an Ensham mine in Queensland, Australia, coal prices go nuts. But when crippling China snowstorms, floods in Queensland, Australia, stronger Asia demand, slower Indonesian growth, power crisis in South Africa wreak havoc, will it be any shock if coal prices double this year?

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The press release is quoted as saying:

Under the current lease agreement with Finning, Teck operates approximately 50 large dozers which are employed at six mines in B.C. and Alberta. As part of the lease renewal, Finning expects to replace 30 of the 50 machines currently operating. Approximately, 18 large dozers will be new and 12 will be rebuild units. The equipment leased is valued at approximately C$36 million.

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Click here to access Finning Corporate Site

The press release is quoted as saying:

Optimum Holdings, a producer of thermal coal, said it planned to use the cash to repay debt incurred after it bought a majority stake in the Koornfontein Mines from Sentula Mining (SNUJ.J), and to fund more acquisitions.

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Click here to access Optimum Coal Holdings Ltd Corporate Site

The press release is quoted as saying:

Canasia’s current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Au over 12.80 metres (announced October 22,2009); (b) The Debut Gold prospect in NE Nevada under lease agreement to Kinross Gold; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and mineral claims covering an area of approximately 9,200 hectares, located north and northwest of the El Oro — Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan, Mexico.

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Click here to access Canasia Industries Corporate Site

The press release is quoted as saying:

Teck will apply the net proceeds of the transaction along with US$300 million of cash on hand to reduce the outstanding balance on its term loan to approximately US$800 million. Teck’s cash balance following the debt repayment will be approximately C$900 million. Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, metallurgical coal, zinc and energy.

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Click here to access Teck Resources Corporate Site

The press release is quoted as saying:

The figure is higher than an earlier estimate of 600 million to 700 million tonnes. Shanxi produced 615 million tonnes of coal in 2009, about 20 percent of China’s total. This year China is targeting national coal output of 3.15 billion tonnes, a 3.3 percent increase, the country’s economic planning ministry, the National Development and Reform Commmission, said in its annual economic plan on Friday.

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The press release is quoted as saying:

Swiss-based Glencore was forced to give up the Prodeco operations last year for $2 billion when it was short of cash, but it got an option to buy them back that expires later today. Glencore may seek a partner to help buy back Prodeco and was holding talks with four possible parties. Negotiations were being held with Brazil’s Vale (VALE5.SA) (VALE.N), U.S. coal miner Alpha Natural Resources (ANR.N), Singapore sovereign wealth fund GIC and U.S. private equity fund First Reserve Corp.

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Click here to access Glencore Corporate Site

The press release is quoted as saying:

The coal-fired power plant project would cost about $150-300 million and was expected to come on stream by 2012.

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Click here to access San Miguel Corp Corporate Site

Coal, whose surging price has outpaced crude oil and natural gas, could double this year.

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The press release is quoted as saying:

Vectren also announced current board members John Dunn, 72, and Richard (Rick) Rechter, 70, will retire from the board of directors effective May 19, 2010. Dunn, chairman of the board and CEO of Dunn Hospitality Group, Ltd., has served as a director for the company and its predecessor since 1996. Rechter, chairman of the board of Rogers Group, Inc., has served on the board of the company and its predecessor since 1984.

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Click here to access Vectren Corporation Corporate Site