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Weekly coal news highlights: 19 – 24 July 2015

World Coal,

A round-up news from 19 – 24 July 2015

Projects and plant updates

  • Prairie Mining has announced an almost doubling of indicated coal resources at its Lublin coal project in Poland.
  • Alliant Energy subsidiary Interstate Light and Power has reached a settlement over Clean Air Act violations at seven of its coal-fired power plants.
  • Two Chinese companies have begun construction of a 1.2 GW power plant in Vietnam.
  • Vinacomin and the north-central Nghe An Provincial People’s Committee sign an agreement over the construction process for the Quynh Lap 1 thermal power project.
  • Chinese contractor, CCCC Second Harbour Consultants, has won a contract to build phase one of a coal storage and transportation hub in Hubei Province, China.

Quarterly results

  • Weak commodities demand and unfavourable exchange rates saw Caterpillar Resource Industries Group profit evaporate in 2Q15 from US$114 million on the previous year.
  • ROM coal production at Atlantic Coal’s Stockton anthracite mine jumped 12% on the previous quarter in 2Q15.
  • Operating profit at Sandvik Mining jumped 74% in 2Q15 on favourable foreign exchange raters and continuing structural saving.
  • Volvo Construction Equipment’s 2Q15 revenue is up by 5% and profitability sees an 80% rise despite major declines in key markets.
  • Vale produced 2 million t of coal in 2Q15 with 1.27 million t from the company’s Mozambique operations.

Corporate affairs

Not to be missed …

  • The National Mining Association urges Congress to stop the Stream Buffer Zone Rule set out by the Office of Surface Mining and Reclamation Enforcement.
  • Politicians from both main political parties have criticised the Office of Surface Mining Reclamation and Enforcement’s proposed Steam Protection Rule.
  • In a recent report on the global mining equipment market, Grand View Research forecast the market to grow to US$95.14 billion by 2022 with recovery coming post-2017.
  • A new report from the IEA Clean Coal Centre outlines the increasing demand for low-grade fuels.
  • Given the current ultralow share prices of US coal companies, the time may be ripe for industry consolidation.

Written by Harleigh Hobbs

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