Hunnu Coal (ASX: HUN) has announced its acquisition of 90% interest in the Tsant Uul Coal Project. The company aims to become a major producer of coal coming from the South Gobi coal province. The press release is quoted saying: “Based on this drilling the Company has estimated an Exploration Target* of 50Mt and 100Mt [...]
Strike Oil declared that it will target coal seam gas in the Cooper Basin region after winning the first petroleum exploration licence granted under a native title land access agreement. For full story, click here
China has discovered a new coal field containing more than 13 billion tonnes of proven coal reserves in the northwestern region of Xinjiang, the China News Service reported on Monday. The 1,400 square-kilometre Sha'erhu coal field, located in the county of Shanshan in eastern Xinjiang
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.
China Shenhua Energy, the country’s largest coal miner, said it had paid 299.9 million Australia dollars (185.7 million US dollars) for a coal exploration licence in Australia. For full story, click here
Waratah Coal Inc reported of a coal exploration target of 205 – 415 Billion tonnes in its Galilee Basin tenements and tenement applications. For full story, click here For company’s website, click here
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