Investors nervously watched this week to see if coal producers would be weighed down by bad weather and higher taxes.
Articles Tagged "bhp billiton"
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.
The International Business Times reported that BHP Billiton's former Chief Executive Marius Kloppers says that he was not fired, but left of his own accord.
Bloomberg reported that BHP is considering selling its Gregory Coal mine in Queensland, due to stubbornly low coal prices.
Signs of an expanding Chinese economy indicate that global coal markets are due for a recovery, but prices won't be impacted for some time.
Bloomberg reported that BHP Billiton is capping expenditure on its thermal coal assets due to increasing pressure of the environmental impact of burning coal.
CNBC reported that unionized coal miners have accepted BHP Billiton's employment contract offer, ending two years of industrial action.
Rising costs and falling prices have pushed many coal producers to halt operations.
Mineweb reported that news that BHP Billiton (NYSE:BHP,ASX:BHP,LSE:BLT) plans to cut coking coal prices for Japanese steelmakers by 24 percent from October to December has not been confirmed as BHP opted not to comment.
Mineweb reported that Rio Tinto (ASX:RIO), Xstrata (LSE:XTA) and BMA, an alliance between BHP Billiton (ASX:BHP) and Mitsubishi (TSE:8058), have all cut, or are planning to cut, contract workers at coal mines in Queensland, Australia.