Coal Investing News

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.

China Resources Units Integrate in Move Away from Coal

Charlotte McLeod — Fri, 10 May 2013 17:35:20 +0000

Bloomberg reported that state-owned China Resources (Holdings) Company Ltd. plans to integrate China Resources Power Holdings Company Ltd. (HKEX:0836) and China Resources Gas Group Ltd. (HKEX:1193) by having China Resources Power acquire China Resources Gas. The move is part of a planned shift away from coal.

Hydropower Dampens Inner Mongolian Coal Production

Charlotte McLeod — Fri, 10 May 2013 17:24:45 +0000

People's Daily Online reported that as many as half of the coal companies in Ordos, which is "one of the major domestic coal producing regions in the Inner Mongolia autonomous region," have reduced or halted coal production due to falling electricity consumption and increased use of hydropower.

India’s Supreme Court Claims “the Heart” of Coalgate Report Draft Was Changed

Charlotte McLeod — Thu, 09 May 2013 17:49:46 +0000

New Delhi Television reported that the Supreme Court of India believes that "the heart" of the Central Bureau of Investigation's (CBI) Coalgate report draft was altered as a result of government suggestions. That's in contrast to the CBI's claim that the "central theme of the status reports have not changed."