Coal Crunch has hit NALCO Unit
A crunch in coal resources has forced authorities of National Aluminium Company to close down one of its 120 MW units. For full story, click here
Articles Tagged "resources"
Obama To Reverse Bush Rule On Coal
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.
Adriana Resources appointed new directors to Board
Adriana Resources Inc. declared the appointments of Mr. Colin Blyth, Mr. Julio Carvalho, Mr. Robert Power, and Mr. Donald Siemens to its board of directors. Michael Beley, President and CEO of the Company, stated: First of all I would like to acknowledge the valued contributions to the Company of our outgoing directors, Paul Fong and [...]
Coal Sees Glimmer Of Light
After a dark winter for Canadian coal producers, spring supply contract negotiations halfway around the world are providing a glimmer of light at the end of the mine shaft. As news of the pricing agreement filtered through the market last week, Canadian coal stocks have reaped the benefits.
Straits Resources sits pretty on coal sale
Straits Resources revealed that it has just sold its stake in its coal assets to Thailand’s PTT International Company for $US335 million. For full story, click here
China increases coal imports
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
Tata Power turned down on selling stake in Indonesian coal mines
Tata Power Company reported that the company has no intentions to sell its stake in two Indonesian coal mines owned by PT Bumi Resources For full story, click here
Yanzhou Coal talks with Felix Resources suspended
Yanzhou Coal Mining Co.’s talks to take over Felix Resources Ltd, whose stock rose 9 percent last year, suspended after price disagreements between the two. Huo Teh-ming professor of China Center for Economic Research at Peking University, said: While China is encouraging its companies to spend more on commodities and energy assets overseas, these acquisitions [...]
Coal Stocks Swing
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.
Major cuts to coking coal prices
Rio Tinto recently gave a big break to JSW Steel Ltd. on an existing contract. The mining major’s move to cut its coking coal prices for the Indian company by 43 percent are a dark sign of things to come for coking coal miners.
