Macarthur Coal has been forced to cancel a AU$ 110 million deal with CITIC Resources over a coal joint venture, as it has failed to secure waivers of pre-emptive rights from all minority participants.
Korea Electric Power Co. has announced the acquisition of a 20% stake in PT Bayan Resources for US$ 515 million.
The remaining five bodies have been recovered from a flooded coal mine in China, raising the death toll to 13.
Power shortages in France could have a knock-on effect on the UK energy market due to cross channel ownership of UK power stations.
The EU has clamped down on state subsidies to the European hard coal sector, ruling that loss making mines can only continue to receive government help if plans to close them are put in place.
The Energy Event will be hosting its inaugural Awards Dinner in September to showcase a more positive side of the energy industry.
Leading Central European miner, New World Resources, has announced its pricing agreement for coking coal and coke sales for Q3. Both average prices for coking coal and coke will increase on Q2 prices.
Continental Coal Ltd and EDF Trading have signed an off-take and funding agreement for all export quality thermal coal produced from Continental’s Project X, Vaalbank and Vlakvarkfontein mines for a 20 year period.
What challenges are facing the energy industry and how can they solve these problems?
Siemens has been awarded the FEED contract to supply coal gasification and power block technology for the Texas Clean Energy Project, a polygeneration IGCC project that will use coal as its feedstock. The project, which will have a carbon capture rate of 90%, received US$ 350 million under the US Department of Energy’s Clean Coal Power Initiative – Round 3.
Aquila Resources has completed the feasibility study for the Washpool coking coal project in the Bowen Basin, Queensland. The project will cost AU$ 320 million to develop and produce 1.6 million tpa of hard rank hard coking coal over a mine life of 25 years.
Riversdale Mining is set to raise AU$337 million to accelerate development of the Benga coal project, as well as explore the company’s other Mozambique tenements. The project has a production target of 20 million tpa by 2013.
GTL Energy has successfully commissioned it’s first coal-upgrading plant in North Dakota, the plant processes low-rank coal to produce low moisture, high energy briquettes.
The US Department of Energy has announced the selection of ten projects aimed at developing advanced technologies for capturing CO2 from coal combustion.
INR will sell its West Virginia coal operations to Cliff Natural resources for US$ 757 million.