Coal

Corsa Coal expects January 2016 to mark the bottom of metallurgical coal prices as a positive demand outlook and cuts to supply provide a long-needed boost.

Corsa Coal announced a reduced loss of US$8.3 million in 1Q16 on the back of cost reductions across its operations.

Phibro Group acquires coal gasification plant in Indiana and intends to repurpose it for fertilizer production.

Australian Pacific Coal is to acquire 100% of the Dartbook Joint Venture after Marubeni Coal opted to sell its minority stake.

Marubeni, Komipo, Samtan, and IMEI agree to develop the Cirebon 3 coal-fired power plant project in Indonesia.

The US Bankruptcy Court for the Eastern District of Missouri has approved Peabody’s US$800 million debtor-in-possession financing facility, allowing the company to continue day-to-day operations.

TerraCom continues to review opportunities to buy mining operations in Indonesia and Queensland to help boost cash flow.

TerraCom has completed its debt restructuring after negotiations with its financiers.

Coal of Africa has reached agreement with Rio Tinto and Kwezi Mining over the outstanding payments due on the Chapudi Coal assets.

Peter Kane, CEO of troubled coal mine, Cockatoo Coal, has been provided notice of termination by the company’s administrators.

NMA President and CEO has launched a scathing attack on the moratorium on federal coal lease sales, calling it a “political fix”.

Coal of Africa has extended its offer period for Universal Coal for a fifth time in order to finalise financing agreements.

Ten Wyoming teachers have been awarded the Arch Coal Teacher Achievement Award.

Activists are planning a “mass civil trespass” to shutdown operations at one of Europe’s largest coal mines.

Armstrong Energy lost US$13.441 million in 1Q15 as high interest repayments continue to weigh down the company’s bottom line.