Bloomberg reported that a mining worker strike is having a significant impact on Xstrata's (LSE:XTA)South African operations.
Cline Mining Corp. (TSX:CMK) announced the sale of its Lossan coal deposit to Xstrata (LSE:XTA) for $40 million.
Bloomberg reported that Xstrata's (LON:XTA) first half profit was up on higher prices for coal and copper.
Mineweb reported that First Coal Corporation has received a purchase offer from Xstrata (LON:XTA).
Reuters.com reports that Xstrata's (LON:XTA) 2010 coal production fell by 6%.
Coal operations will be shut by a 48-hour strike during the weekend in Xstrata (XTA.L)
Demand for coal to generate electricity and make steel in China and India is expected to grow by 7-8% annually in the next five years, leaving the world chronically short of the fuel. Moreover, currencies linked to coal have outperformed both their emerging market and G-10 peers.
Xstrata Coal’s output volumes for the six months to June 2009 surged by 4.2 million tonnes or 11% over the corresponding period in 2008. For full story, click here
Mining group Xstrata Plc has released first-half output and price data on Tuesday. For full story, click here
A central Queensland coal mine which closed last year will reopen. Xstrata has closed off the Oaky number one mine north-east of Emerald late last year, blaming a slump in demand for coking coal in China. For full story, click here
Tuesday, October 18, 2011