Bloomberg reported that Bumi Resources announced a $666.2 million net loss for 2012, blaming lower coal prices. As quoted in the market report:
Articles Tagged "coal prices"
Bloomberg reported that European coal has dropped to a record low as the balance of supply and demand move farther apart. As quoted in the market report:
Reuters reported that thermal coal miners are facing possible mine closures as the combination of weak demand and oversupply are squeezing margins too tight.
Reuters reported that European coal futures continued their descent, hovering around levels not seen since the beginning of the global financial crisis in 2008 on news that a resolution to the Colombian coal strike is likely in sight.
Bloomberg reported that European coal for 2014 tumbled to a record low as Chinese demand came under question under their new environmental measures.
Can import-hungry India pass China as the world's largest coal consumer?
Bloomberg reported that European coal sank to a record low as striking Colombian coal workers started talks with management.
Bloomberg reported that European coal dropped to the lowest level this week as pressure mounts on the Colombian government to restart talks to end a strike at their largest mine.
Platts reported that last week, a two-day strike undertaken by Pacific National rail employees earlier this month continued to affect coal shipments from Newcastle's three coal terminals, bringing them down to their lowest level in 12 weeks.
Bloomberg reported that its analysts believe that Xstrata plc (LSE:XTA) is set to sell coal to Japan at $98 per metric ton, the lowest level seen in three years, beginning April 1, 2013.