Weekly coal news highlights: 17 – 21 August 2015

Regional reports

• Chinese coal imports remained weak during 1H15, when China imported 38% less coal (including lignite and anthracite) compared to 1H14.
• The Indonesian government has lowered its coal production target for this year to 400 million t as the country’s coal miners cut production amid lower global and domestic demand and subdued prices.
• Arch Coal has spoken out against calls to reform the US federal coal programme, which determines the royalty to be paid on coal mined on federal land.

Mergers & acquisitions

• Patriot Coal Corp. has entered into an asset purchase agreement with ERP Compliant Fuels LLC (ERP), an affiliate of Virginia Conservation Legacy Fund (VCLF).
• Murray Energy has bought its first coal assets outside of the US with the acquisition of Colombia Natural Resources and related assets in Colombia.
• Terex Corp. and Konecranes Plc have announced that the two companies have entered into a merger of equals. The new company will be named Konecranes Terex Plc.

Company results

• Australian coal producer, Yancoal, has announced a loss after tax of AUS$145.4 million on revenue of AUS$634.4 million and production of 7.7 million t of saleable coal.
• Glencore has announced a 26% drop in earnings in 1H15 on “substantially weaker commodity prices,” the company said in its half-year report.
• Armstrong Energy has announced results for 2Q15 and 1H15 with adjusted EBITDA for 2Q15 43.2% higher than comparable periods of last year.

Equipment and suppliers news

• SUEK-Kuzbass’s Polysaeuskaya mine has commissioned a new, fully automated longwall, the first such system in Russia.
• Management at the New Acland coal mine (NAC), Queensland, has turned to a Wirtgen surface miner, as a sharp drop in coal prices required a more efficient mining methods.
• Loesche has delivered the first vertical roller-grinding coal mill to PT Bhumiadya Indonesia’s limestone plant.
• As Metso continues to transform is mining business operations, the company has announced the closure of its York manufacturing plant, Pennsylvania.

Not to be missed

• What’s the most common challenge faced by mining companies today when embarking on a mission to reduce their use of electrical energy? Lack of information – as Schneider Electric’s Fabio Mielli explains.

Read the article online at: https://www.worldcoal.com/coal/21082015/weekly-coal-news-highlights-17-21-august-2015-/