DOE funds $6.9M in projects to extract REEs from coal

The U.S. Department of Energy (DOE) is building on earlier funding into research aimed at pulling rare earth elements (REEs) from coal. The DOE today said it will it will invest $3 million through three projects that will receive about $1 million each. The projects will use coal sourced from  Kentucky, Pennsylvania and West Virginia. Another[…]

Glencore snatches Rio Tinto-owned mines from Yancoal with $2.55B offer

Miner and commodities trader Glencore (LON:GLEN) has performed a coup d’etat on a deal that was practically sealed between Yancoal Australia (ASX:YAL) and Rio Tinto (ASX, LON:RIO) for Rio’s coal assets in Australia’s Hunter Valley. The company said Friday that it has offered $2.55 billion for the mines that are near coal operations already owned by[…]

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[…]

Trump goes after another of the Obama-era protection rules to favour miners

The Trump administration is going after another of the Obama-era environment protection rules by ordering a review of conservation plan for the greater sage grouse, in a move that would make more land available to oil, gas and mining companies. Announcing the measure, Interior Secretary Ryan Zinke said that while the federal government has a responsibility under[…]

Anglo American appoints takeovers expert as new chairman

Anglo American (LON:AAL), the world’s fifth largest diversified miner, has appointed Stuart Chambers to succeed Sir John Parker as chairman of the group. Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November. Stuart Chambers is known for his active participation in the sale of several[…]

CHART: Commodity prices slump to 50-year low against US stocks

The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world’s largest economy remains stuck around the 1% level.“Following the notion of mean reversion, we should be seeing attractive investment opportunities” In contrast the S&P GSCI All Commodities index is[…]