Rio Tinto’s Chapudi coal project in South Africa, with estimated resources of 1 billion tonnes, is studying the possibility of supporting a power station to ease electricity shortages. The project’s Technical Manager Kuda Muchenje stated: There is significant thermal coal in that project … with the right transmission and water infrastructure in place we think [...]
Rio Tinto’s Chapudi coal project in South Africa, with estimated resources of 1 billion tonnes, is studying the possibility of supporting a power station to ease electricity shortages. For full story, click here
Coal India has recruited 343 freshers from prestigious IITs and IIMs in the current placement season, more than double the number it had hired last season, even as its global peers like Rio Tinto and BHP Billiton have cut jobs amid global economic slump. Coal Chairman Partha S Bhattacharyya stated: We have hired 343 professionals [...]
Arch Coal Inc. has agreed to pay Rio Tinto Plc $761 million for a mine in Wyoming’s Powder River Basin that will allow it to significantly boost production in the nation’s biggest coal-producing area. Ramsey analyst David Khani, stated: Strategically, this makes sense since the mine is adjacent and Arch can absorb the mine very [...]
JSW Steel has already negotiated a 43% cheaper rate for coking coal to be procured from global mining major Rio Tinto for the January to March quarter at USD 175 a tonne, against the contracted price of USD 305 a tonne. For full story, click here
The company agreed to cut coking coal prices for India’s JSW Steel Ltd. by 43 percent for the last three months of an annual contract after global demand slumped. Jim Lennon, London-based analyst at Macquarie Group Ltd., said: This shows that companies are willing to be flexible in these unprecedented times, $175, however, is still [...]
Rio Tinto Alcan said plans to cut another six percent of output and will also cut alumina production, shed 1,100 employees to cut costs. For full story, click here
Rio Tinto Group may have to cut contract prices by a third next year because of slumping demand from steelmakers, according to a survey of analysts. For full story, click here
BHP Billiton abandoned its year-long pursuit of Rio Tinto Group, blaming the rout in commodities prices and the credit-market squeeze for derailing the biggest hostile offer. For full story, click here
Corporate biggies like Rio Tinto, ArcelorMittal, Reliance, Sterlite, Essar and JSW Steel have evinced interest in reviving 18 abandoned mines of Coal India. For full story, click here
Get our independent commentary on coal trends and companies delivered to your inbox.
