Erdene Resource Development Corp. (TSX:ERD) announced the end of the Xstrata Coal Mongolia Alliance Agreement.
Articles Tagged "xstrata"
Bloomberg reported that Xstrata's profits slid 37 percent in 2012, mostly due to rising coal costs.
Bloomberg reported that its analysts believe that Xstrata plc (LSE:XTA) is set to sell coal to Japan at $98 per metric ton, the lowest level seen in three years, beginning April 1, 2013.
Bloomberg reported that Glencore's 2012 coal production more than doubled after buying mine operations in South Africa. As quoted in the market report:
As overcapacity pushes the Chinese coal sector toward consolidation, coal imports in India are increasing.
Mining Weekly reported that Eskrom has reached a confidential agreement with Xstrata and Glencore to ensure that the newly merged company doesn't monopolize the coal market.
Reuters reported that a hearing from the South African competition tribunal regarding Glencore's $33 billion takeover of Xstrata has been postponed until January.
Mining Weekly reports that Xstrats (LON:XTA) has confirmed that it will cut jobs at its Oaky Creek project, in Queensland, but did not give firm numbers.
Bloomberg reported that as mines restart, and Xstrata's (LON:XTC) coal output increases, they continue to be a takeover target by Glencore International PLC (LON:GLEN).
Problems for the coal sector continue, stemming from a supply glut and reduced demand in key consuming markets. However, the head of the world's largest thermal coal exporter says the bottom of the market has been reached, and that prices should begin rising again after year-end.