Arch Coal has completed the acquisition of Rio Tinto's Jacobs Ranch coal mine for $764 million. For Rio Tinto, under tremendous pressure to reduce its $42-billion debt, the selling spree has just got underway. Meanwhile, rival BHP Billiton is sitting pretty with $18 billion in cash, and is eyeing 5 acquisitions. So is Western Coal.
Continue reading "Rio Tinto's Debt Gamble, BHP Builds"
Friday, June 26, 2009
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd. For full story, click here
Continue reading "Indonesia Investors has eyed BHP Billiton Coal Project"
Wednesday, June 10, 2009
Global miner BHP Billiton has agreed to take a 58 percent price cut for the coal it sells to major steel-makers, in line with market expectations and a sharp dip in the international steel industry. Sydney-based Patersons Securities coal analyst Andrew Harrington stated: We had assumed 60 percent decline. For full story, click here
Continue reading "BHP Billiton declared 2009 steel-making coal prices slipped 58%"
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Thursday, October 1, 2009