Weekly coal news highlights: 21 – 25 September 2015

Corporate affairs

• Caterpillar Inc. announces significant restructuring and cost reduction actions to lower operating costs by US$1.5 billion.
• Alaska’s only operating coal mine will cease exports on low coal prices and weak demand.
• SunCoke, a supplier of high-quality metallurgical coal to the integrated steel industry, intends to streamline the company’s management and has modified its leadership team.
• Cambrian Minerals Group Inc. appoints Tom Myatt, a well-known mining executive, to its Senior Management Team.
• Prairie Mining shareholders have approved the investment of up to AU$83 million in the company by CD Capital, clearing the way for completion of the transaction.

Sales and acquisitions

• TECO Energy Inc. closes the sale of its coal mining subsidiary, TECO Coal LLC, to Cambrian Coal Corp.
• Cockatoo Coal Ltd, through its subsidiary SE QLD Energy Ltd, reaches an agreement with Moreton Resources Ltd’s subsidiary, MRV Tarong Basin Coal Pty Ltd, for the sale and transfer of tenement EPC 882.
• Patriot Coal will proceed with the transaction to sell a proportion of its operating assets to Blackhawk Mining following a competitive auction.
• Vattenfall invites prospective bidders to state interests in the company’s German lignite generation and mining assets.
• Sable Mining enters into a MoU with CITIC Construction Co. Ltd, a subsidiary of CITIC Group, with plans to progress a 600 MW coal-fired power plant at its 19 236 ha. Lubu coal project in Zimbabwe.

Coal gas developments

• Santos’ GLNG project in Queensland, Australia, has begun producing its first LNG from coalbed methane from the Surat and Bowen Basins.
• CLNR announces report highlighting economic benefits of coal gasification.

Mining operations

• The Department of Energy permits Semirara Mining and Power Corp, a unit of DMCI Holdings Inc, to resume mining operations at its Panian opencast mine in central Philippines.
• The number of new and reactivated US coal mines has dwindled over the past few years according to a report by the US Energy Information Agency.
• According to a new report by Timetric’s Mining Intelligence Center, more mines in Latin America are planning to significantly increase their spending over the next twelve months compared to any other mining region.
• Alaska’s only operating coal mine will cease exports on low coal prices and weak demand.
• Tanzanian-focused coal company, Edenville Energy, has provided an update on the status of its mining licence application.
• Atrum Coal NL reports positive progress after identifying various potential new mines at the Groundhog anthracite project, located in British Columbia, Canada.

Not to be missed …

• The World Coal Association calls on participants at Climate Week to recognise the role of all low-emission technologies to help reduce global carbon emissions, including low-emission coal technologies.
• Accenture Internet of Things Centre of Excellence for Resources opens in Singapore to assist companies in Asia Pacific to get the most out of advances in technology.

Read the article online at: https://www.worldcoal.com/coal/25092015/weekly-coal-news-highlights-21-25-september-2015-2916/