Weekly coal news highlights: 8 – 12 February 2016

Outlooks on staying the Clean Power Plan

• The US Supreme Court has delivered a blow to President Obama’s flagship environmental regulation, halting enforcement of the Clean Power Plan.
• National Mining Association President and CEO, Hal Quinn, comments on the High Court’s Stay of Clean Power Plan.
• Congressman Gary Palmer (R-AL) has welcomed the Supreme Court’s decision to stay the EPA's implementation of a Clean Power Plan.
• According to Clean Coal Technologies Inc., the temporary halting of Obama's climate policy could hasten adoption of its proven new coal technology for US coal and energy industries.
• Utah Attorney General Sean Reyes indicates SCOTUS Decision to halt EPA Clean Power Plan recognises the dramatic impact it would have on the state.
• The American Coal Council and American Coalition for Clean Coal Electricity welcome the Supreme Court’s ruling to stay the Clean Power Plan.

Financial results

• Peabody Energy has announced a US$1.86 billion loss in 2015 on asset writedowns, falling coal demand.
• Glencore reports coal production for the 12 months ended 31 December 2015 was down to 131.5 million t, due to curtailed production in response to market conditions and deconsolidation of optimum coal.
• Global mining giant, Rio Tinto, recorded a loss of US$866 million in 2015 on the back of falling metals prices.
• A pre-tax impairment charge of AUS$795 million on its coalbed methane assets saw AGL record a statutory loss in 2H15.

Mining

• US mining and exploration investment spending fell by 25% in 2015, the second largest year-on-year fall since reporting began.
• Approximately 75 employees could loose jobs at River View Coal and White County Coal, as well as 200 temporary layoffs at Hamilton County Coal, as a result of reducing operational units.
• In a letter addressed to Union Minister of State for Coal, Power, New and Renewable Energy, ASSOCHAM advises on ways to boost domestic production of metallurgical coal in India.

Project updates

• The South African Competition Commission has recommended the purchase of Optimum Coal by Tegata Exploration and Resources be approved.
• THEnergy and Ripasso have released a study on the uses of renewables in mining.
• Kibo Mining completes Phase 1 of the Mbeya coal-to-power project, integrated bankable feasibility study.
• Edenville makes progress with its Rukwa coal-to-power project in southwest Tanzania with Tanesco through setting out a power purchase agreement.
• The final stages of initial construction works at the Boikarabelo project in the Waterberg region of South Africa continued despite a wholesale change in company management.
• The environmental authority for Adani’s Carmichael mega-mine has been approved by Queensland’s Department of Environment and Heritage Protection.
• Action Drill & Blast has reached a principal agreement with Golding Contractors to provide drill and blast services at Isaac Plains.

Corporate affairs

• Australian Pacific Coal’s CEO, Nathan Tinkler, has resigned following a Federal Court of Australia judgment that removes his ability to carry out his current roles.
• Martin Engineering appoints Robert Nogaj as the company’s new Chief Operating Officer.
• In order to better meet the company's needs over the next twelve months, Leigh Creek Energy’s current CFO has been appointed to the role of CEO.
• To better focus on evaluating customers’ needs and improving product lines, McLanahan creates a product management and development team, leading to changes in its corporation structure.

UK Power

• Eggborough’s 2000 MW coal-fired power plant, UK, has announced the signing of a contract with National Grid, enabling the plant to stay open until March 2017.
• The UK will find it challenging to meet its climate change commitments without carbon capture and storage.
• Lessons need to be learned from 2015 when National Grid had to invoke special measures to prevent a blackout, comments GMB.

Not to be missed …

• A third of coal mines operating at a loss according to new report. Governments should be doing more to aid the sector in the downturn to support existing operations, according to QRC CEO Michael Roche.
• Demolition age drops as the dry bulk market enters another challenging year, according to a new report from BIMCO.
• So far this winter, natural gas consumption in the electric power sector has been higher than in any previous winter, according to a new report from the US EIA.

Read the article online at: https://www.worldcoal.com/coal/12022016/weekly-coal-news-highlights-8-12-february-2016-235/