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[…]

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[…]

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[…]

New method for cleaning coal could help determine economic viability of coal projects

A new method for cleaning metallurgical coal to verify coal quality for coke making could replace a widely-used chemical-based process leading to a more accurate assessment of the economic viability of coal projects. This month, the Canadian Carbonization Research Association (CCRA) and Geoscience BC will launch a research project to assess the effectiveness of an[…]

South32 buys stake in Canada’s Arizona Mining for $81 million

Australia’s South32 (ASX, LON, JSE:S32) is investing some of its $1.5 billion of cash in a minority stake in Canada-listed Arizona Mining (TSX:AZ), which plans to develop a zinc-lead-silver project in Arizona. Deal comes only two weeks after South32 walked away from a $200 million planned acquisition of Peabody Energy’s coal mine in New South Wales. As part of[…]

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[…]

Caterpillar soars as first quarter sales jump for first time in over two years

Shares in world’s largest heavy machinery maker Caterpillar (NYSE:CAT) jumped Tuesday as it reported a first quarter profit that far exceeded estimates thanks to a long-awaited pick up in sales and improved demand. For the first time in more than two years, the Peoria, Illinois-based company registered an increase in sales in several of the[…]

Coking coal price close to $300 a tonne on Australian disruptions

Coking coal prices closed the week 86% higher, climbing 34% on Friday alone to $283.10 a tonne, after damage caused by a cyclone that struck Australia’s north-east coast in late March has put supply at risk. One of the largest disruption to Australia’s coking coal exports in six years has caused a record surge in prices. Major producers including BHP[…]

Cyclone damage causes BHP to declare force majeure in Australia

World’s largest miner BHP Billiton (ASX:BHP) said on Wednesday it won’t meet its coal export commitments due to the damage caused by a cyclone that struck Australia’s north-east coast last week. Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to[…]