Bloomberg reported that Australian mining companies are producing and exporting coal at a loss due to take-or-pay contracts with freight companies.Losses from exporting coal at current low prices are much less than what it would cost to default on the freight agreements.
Articles Tagged "BHP Billiton"
Mining.com reported that BHP Billiton (ASX:BHP) is looking to build the largest underground thermal coal mine in the world, but could meet opposition from locals who have a stake in the proposed location at Liverpool Plains, Australia.
Mining Weekly reported that Andrew Mackenzie, CEO of BHP Billiton Ltd. (NYSE:BHP,ASX:BHP,LSE:BLT), believes that although the US shale gas industry is growing quickly, coal will continue to be the most dominant source of fuel worldwide for the coming years.
Mining Weekly reported that on Tuesday, Graham Kerr, CFO of BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT), said during a media conference call that his company continues to see coal as an "attractive commodity."
Reuters reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) and Mitsubishi Corp. (TSE:8058) plan to cut about 230 jobs at their Queensland-based Saraji mine.
Bloomberg reported that South Africa's Richards Bay Coal Terminal shipped a record 70.2 million metric tons (MT) in 2013, up from 68.3 million MT in the year-ago period.
There are two types of metallurgical coal, thermal and metallurgical. Here's a look at what they are used for, where they are mined and which companies are mining them.
Reuters reported that Colombia's Cerrejon, a joint venture between Anglo American plc (LSE:AAL), BHP Billiton Ltd. (ASX:BHP,LSE:BLT,NYSE:BHP) and Glencore Xstrata plc (LSE:GLEN), may have problems meeting its 2013 production target of 34 million tonnes of coal as a result of a strike earlier this year and attacks on its railway.
The Guardian reported that BHP Billiton Ltd. (ASX:BHP,NYSE:BHP,LSE:BLT) has opted out of a $5-billion plan to build a second terminal at the Abbot Point port, located near the Queensland, Australia town of Bowen. The move was reportedly prompted by the release of a report that states an expansion would be "misguided and could result in job losses."
Bloomberg reported that BHP Billiton Ltd.'s (ASX:BHP,NYSE:BHP,LSE:BLT) Colombia-based Cerrejon coal mine will come close to a previously announced production target despite a month-long strike.