February 2011: Time is usually regarded as a negative in any business endeavor – the quicker, the better. After all, time is money (right?). Balancing the ‘time required for sustainable change’ with a ‘schedule for change’ is almost always an exercise in conflict.
Coal production and exports in Colombia rose last year, with predictions that production will hit 97 million t in 2012.
Ludowici, an Australian mining equipment supplier, finds itself in the centre of a bidding war between FLSmidth and the Weir Group.
Xstrata is offering to sell 20% of the proposed AU$ 6 billion Wandoan coal mining project in Queensland.
Cockatoo Coal’s Collingwood and Taroom projects have received “significant project” status from the Government of Queensland.
After failing to reach agreements over job security miners in Australia have declared a seven day strike at BHP coking mines.
Gerrit Lok, Hatch Africa’s director for coal gives an analysis of global coking coal demand and supply trends.
Beacon Hill Resources Plc., has announced a new find at Minas Moatize.
Patriot Coal Corp. has idled its Big Mountain complex in West Virginia citing weak demand.
Xstrata has announced record production from its Australian thermal coal operations following the successful commissioning of the Mangoola mine. Production in Colombia was also up on the previous year, but down in South Africa where industrial action and restructuring saw production drop by 3%.
Australian miner, Cockatoo Coal, announces JORC reserves at Taroom and Collingwood projects in the Surat basin, and the establishment of the North Surat Joint Venture with Mitsui.
Sandvik celebrate’s its 150th birthday on 31st January.
Kinder Morgan Energy Partners has announced plans to invest approximately US$ 140 million to further expand its coal handling facilities along the Gulf Coast.
Peabody Energy has announced in full year results for 2012, reporting an increase in operating profits to US$ 1.59 billion. Investment in Australia will continue apace; however, the company warns of depressed conditions in the US market due to muted economic growth and increased coal-to-gas switching.
India is set to become the largest importer of coal in the world. But doubts remain over many aspects of current power sector legislation and electricity tariffs. Mike King examines the uncertainty this is creating for the power generating companies and the miners that serve them.