Coking coal prices are on fire — up more than 80% in six months

Prices of coking coal, the steel-making kind, keep soaring on slowing supply growth from China and increased demand from Indian steel mills. Far seems to be the multi-year lows struck in February, as the commodity has surged more than 80% since then, jumping 41% in August alone to nearly $140 a tonne, the highest level[…]

Canada’s mining industry faces workers shortage of up to 127,000 — report

The average retiring worker takes with him 37 years of labour force experience, a loss the industry must offset, says the report. (Image from archives) With commodity prices rebounding from their lowest in at least 25 years, miners are stepping up spending and considering the reactivation of projects placed in the back burner, but there[…]

Australian fund takes over Anglo American’s Foxleigh coal mine

Embattled miner Anglo American (LON:AAL) completed Monday the sale of its 70% stake in an open cut coal mine in Queensland, Australia to a joint venture led by fund manager Taurus Fund Management. The disposal of the Foxleigh coal mine is part of Anglo’s recently announced massive and complete exit from coal. While the sum[…]

B.C. coal mine poised for restart

The sale of three mine properties around Tumbler Ridge, British Columbia, nears completion following a rebound in the price of metallurgical coal. West Virginia-based ERP Compliant Fuels is negotiating a deal to buy the mothballed Wolverine, Brule and Willow Creek mines. Officials with the company said the sale could close as soon as September 1.[…]