The U.S. Interior Department has said it will try to overturn a Bush administration rule that made it easier for coal mining companies to dump mountaintop debris into valley streams. The action is the latest blow to the coal industry, which defends mountaintop mining as a safer, cheaper alternative to traditional underground mining.
Continue reading "Obama To Reverse Bush Rule On Coal"
Tuesday, April 7, 2009
Upgrade season is on and for coal and things seem to be heating up. Coal prices appear to be at a bottom and credit markets are beginning to work again, which should provide a positive catalyst for the industry. Cancellations of mining projects stabilized in February as well. To add to the positive news, J.P. Morgan on Monday upgraded mining firms Joy Global (JOYG) and Bucyrus International Inc. (BUCY) to neutral from underweight.
Continue reading "Coal Prices: Only Way Up"
Wednesday, April 1, 2009
Shanxi region reported that it plans to produce 650 million tonnes of raw coal in 2009, down by 2% from the previous year. For full story, click here
Continue reading "Shanxi province to cut trim coal output"
Monday, March 30, 2009
Brazillian mining giant Vale has commenced construction work on a $1.3bn coal project in northern Mozambique, with a view to producing 11m tonnes of coal per year. For full story, click here
Continue reading "Vale starts off $1.3bn Mozambique coal mining project"
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Monday, April 27, 2009