International Coal Ventures in talks to acquire stake in a US coal producing major, reports CNBC-TV18, quoting sources. This stake purchase would help the organization in accessing mining concessions in the US. For full story, click here
Huaneng Power International Inc., China’s leading electricity provider, declared a return to profit in the first half of 2009, buoyed by two tariff hikes in the second half of last year and lower coal costs. For full story, click here
International Coal Group Inc has posted a second-quarter profit that beat market estimates by a cent and said the worst of the market weakness seemed to be over, sending its shares up 10 percent. Chief Executive Ben Hatfield declared: Economic signals from Asia are somewhat encouraging, and we are hopeful that the U.S. economy will [...]
International Coal Group Inc has posted a second-quarter profit that beat market estimates by a cent, helped by higher margins, and declared the worst of the market weakness seemed to be over, sending its shares up 9 percent in pre-market trade. For full story, click here
Ennore Coke Ltd, a domestic maker of coking coal, has finalised the annual coking coal contracts commenced from April 1 this year with its international suppliers Rio Tinto and BHP Billiton Mitsubishi Alliance, a joint venture of BHP Billiton and Mitsubishi Development Pty Limited. Ganesan Natarajan, president and chief executive officer, Ennore Coke Ltd told [...]
Though the world economy continues to remain frail, more and more production is coming on line and mines are being developed. And as factories begin to open rather than close, and for all the new nuclear power plants being foreshadowed, there will be an enormous demand for thermal coal. A false dawn?
International Coal Ventures, the special purpose vehicle of five leading PSUs to scout coal properties abroad will close acqusition of four mining blocks in Mozambique with estimated reserves of 900 million tonnes. For full story, click here
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
International Coal Group declared that it is willing to cut production more as it deals with dipping demand and prices. For full story, click here
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