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.
Western Canadian Coal Corp (TSX:WTN) are to host its annual and special meeting of shareholders on September 29, 2009 at 10:00 am. At the Meeting, shareholders will be asked to approve a resolution to change the name of the Company to Western Coal Corp. Management and the Board of Directors believe the new name better [...]
Essar Steel’s Canadian unit has announced that it is likely to be taken to court in the US for breach of contract and pressed for damages amounting to USD 75,000 by International Coal Group. For full story, click here
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