North Korea coal exports down to zero on China ban, UN cap

North Korea’s global coal exports went down to zero in April, data released Friday shows, mainly due to China’s recent decision to ban imports from its nuclear-armed neighbour for the rest of the year. According to the US Energy Information Administration’s (EIA) latest brief, coal shipments from North Korea to an unnamed country fell from[…]

Adani to go ahead with polemic Carmichael coal mine after all

Indian conglomerate Adani Group has decided to go ahead with its $12 billion (A$16bn) Carmichael coal mine and rail project in Queensland, Australia, one of the world’s largest thermal coal mines approved in recent years. The decision comes only days after the conglomerate agreed to pay the state hefty royalties on the coal produced there[…]

Is coking coal pricing moving away from quarterly benchmarks?

Metallurgical coal miners could be exposed to more pricing volatility if a move afoot to do away with quarterly pricing comes to anything. Coking coal, the kind used in steelmaking, is currently set at quarterly benchmarks between Australian mining companies and Japanese steelmakers. “They want index-linked or fluctuating pricing. They are tired of quarterly discussions[…]

Here's why the iron ore price is tanking

The destruction of iron ore and coking coal prices in the past week has been brutal. Northern China 62% Fe import prices are down more than 12% since last Friday after losing another $4 on Friday to below $60 a tonne. Measured from its February peak, the steelmaking raw material is down a stomach-churning 37%.[…]

Anglo’s sale of Drayton coal mine spooks horse breeders

Anglo American’s (LON:AAL) sale of its Drayton coal project in New South Wales has reignited debate about the co-existence of mining operations and horse studs in the Hunter Valley. The company, which abandoned the project last year as it failed to get the necessary permits, announced Thursday it had agreed to sell its 88.17% stake[…]

Dozens trapped, two killed in Iranian coal mine explosion

Two coal miners have died and more than 50 remain trapped after an explosion in a mine located in Iran’s northern Golestan province. Speaking to Press TV, the English-language arm of Iranian state television, the head of the provincial Red Crescent, Hossein Ahmadi, said there were 26 people trapped. Sadegh Ali Moghadam, the provincial director general[…]

Australian officials slam banks decision to refuse backing country’s largest coal project

As “strange” and “disappointing” qualified Australia’s Federal Finance Minister Mathias Cormann the decision by the country’s four biggest banks to rule out or withdraw funding for Adani’s Carmichael coal mine and rail project. The lenders’ move follow a decision by Australia’s second-largest bank Westpac, unveiled on Friday, to only fund new projects in existing, rather[…]

BHP puts US shale assets back on the block amid investors pressure

Mining giant BHP Billiton (ASX, NYSE:BHP), (LON:BLT) is once mulling the future of its US-based Fayetteville shale gas assets to focus on more lucrative opportunities in oil, but said decision was not related to activist investor Elliott Management’s call earlier this month for an overhaul of the firm. The company, which last year logged its largest-ever[…]