Yancoal seeks $2.5bn from investors to pay for Rio’s Aussie coal mines

China-backed Yancoal Australia (ASX: YAL) said Wednesday it will launch a fundraiser to fetch $2.5 billion it needs to buy Rio Tinto’s (LON, ASX:RIO) Coal & Allied division, which it scored late June after a three-week bidding war with Glencore. The figure is lower than the $2.69 billion originally agreed, thanks to Glencore’s (LON:GLEN) intervention last[…]

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%.[…]

INFOGRAPHIC: The numbers behind the world's closest trade relationship

Courtesy of: Visual Capitalist Whether we’re discussing the ancient merchants that traversed the legendary Silk Road, or the transfer of goods across modern border lines, trade has always been about building close relationships. There are many examples of strong and mutually-beneficial trade relationships all throughout history, but one doesn’t have to look far back to[…]

Coking coal price soars past $300

The market for coking coal took another leap on Monday with the steelmaking raw material surging more than 6% to $300.30 (Australia free-on-board premium hard coking coal tracked by the Steel Index), a 19-week high. Coking coal has doubled in two weeks on the back of  disruption to Australia’s coal exports associated with Cyclone Debbie which[…]

US withdrawal from TTP to impact steel sector — Wood Mackenzie

US President Trump’s decision to leave the Trans-Pacific Partnership free-trade deal earlier this week will have little immediate impact on the country’s steel industry, though the long-term effects are likely to be significant, Wood Mackenzie is warning. Despite intense lobbying from Japan and other nations part of the deal, which never entered into force but[…]

Glencore becomes sole owner of Newlands, Collinsville coal mines in Australia

Miner and commodities trader Glencore (LON:GLEN), the world’s biggest supplier of thermal coal, has bought out its two Japanese partners in an Australian coal venture that includes Newlands and Collinsville mines, as well as a stake in an export terminal. Glencore recently restarted one of them, Queensland’s Collinsville, in response to higher coal demand from Southeast[…]

CAT says room and pillar is like landlines — its days are numbered

Caterpillar (NYSE:CAT) is moving away from room and pillar mining, a business that services mostly coal companies in the US, as the world’s largest heavy machinery maker thinks the technique is obsolete. Speaking to MINING.com during MINExpo 2016 last month, product manager for large mining trucks Sudanshu Singh said that very few mines currently employ[…]