Coal stocks have been hit hard in this recession, given slumping electricity demand in the U.S. and the sharp drop-off of steel demand. For shareholders of Patriot Coal Corp (PCX: NYSE), the pain has been particularly acute. The stock lost 96 per cent of its value since last June's record highs. This year alone, Patriot's stock is down 41 per cent versus a 1 per cent decline by the Dow Jones U.S. Coal Index.
Continue reading "Coal Stocks Swing"
Wednesday, February 18, 2009
There’s news that SAIL may be able to buy coking coal from BHP Billiton at $150 per tonne. For full story, click here
Continue reading "SAIL may be able to buy coking coal from BHP Billiton"
Thursday, November 13, 2008
GMR Infrastructure is close to buying PT Barasentosa Lestari coal mine in Indonesia for over $100 million. For full story, click here For GMR’s website, click here
Thursday, November 6, 2008
GMR Infrastructure is close to buying PT Barasentosa Lestari coal mine in Indonesia for over $100 mn. GMR is lining up debt financing for the take over providing it with access to coal assets located on Kalimantan island. For full story, click here For GMR’s website, click here
Continue reading "GMR to acquire Indonesia's coal mine company for $100 mn"
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Monday, March 2, 2009