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.
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.
Bloomberg reported that Australia's 30-percent tax on coal and iron profits will bring in only AU$800 million in revenue by June 30, down from an earlier estimate of $2 billion.
Coal India's inability to supply adequate coal to India's electricity providers is causing power shortages in the energy-hungry nation.
Investors nervously watched this week to see if coal producers would be weighed down by bad weather and higher taxes.
Japan is joining Asia’s battle for coal resources. Who will benefit from the rush for new supply?
Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) wants to sell approximately 10 assets. The move follows BHP's decision last year to shut down a number of unprofitable coal mines, as well as its announcement last month that it is considering selling the Queensland-based Gregory-Crinum coking coal mine.
Platts reported that a rail strike that happened over the weekend has forced the cancellation of about 500,000 mt of coal exports from Australia's Newcastle Port.
Reuters reported that wet weather and flooding in Queensland have shut down some coal ports and the coal rail transport system, but mining operations in the area are not expected to be impacted.
MarketWatch reported that Anglo American is cutting jobs at its Grasstree Coal mine.
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