Coal

Coal India Ltd plans to invest up to US$ 1.7 billion to acquire stakes in five foreign coal mines.

Riversdale Mining has officially opened its Benga coal project in Mozambique, with an estimated potential to produce 20 million ROM tpa of coal for more than 25 years. The company has also signed a contract with MCC to cover open pit mining for the first stage of the project.

Icon Energy has signed a memorandum of understanding to supply China with LNG, the move has sparked a massive increase in the company’s share price.

The World Bank has approved a US$ 3.75 billion loan to Eskom, which will be used to complete the 4800 MW Medupi coal-fired power plant in South Africa. The loan will ease the country’s power shortages and help it to achieve a reliable energy supply.

Immense deposits, a reforming president and a thriving democracy continue to outweigh the negatives of investing in Indonesia. This has led to miners boosting thermal coal output to meet demand from Asia’s power companies.

In the worst mining disaster in over 25 years, an explosion at an underground coal mine in West Virginia has killed at least 25 miners.

BHP Billiton, the world’s largest mining company, will create a joint venture with PT Adaro Energy, a leading Indonesian miner, to develop its Indonesian Coal Project in East and Central Kalimantan. Adaro will acquire a 25% interest in the project, with BHP retaining the remaining 75%.

April 2010: Kay Sever outlines how how awareness can be a double-edged sword in improvement.

China National Offshore Oil Corp. (CNOOC) has signed an agreement with BG Group of Australia for the purchase of 3.6 million tpy of LNG for the next 20 years.

As part of its investment into clean coal energy, Peabody Energy has invested US$ 15 million in Calera Corp., owner of technology that converts CO2 into green building materials.

Australia’s Arrow Energy has accepted an improved takeover bid from Royal Dutch Shell and PetroChina worth a reported AU$ 3.44 billion (US$ 3.14 billion). The takeover is subject to approval by Arrow shareholders and Australian authorities.

Leading oil and gas executives from the APAC region meet to discuss ways of competing with production from the MENA region.

Arrow Energy is set to reject a take-over bid from a company jointly owned by Royal Dutch Shell and PetroChina.

The changing behaviour of the European and Chinese coal markets and its impact on South African export coal prices.

Westside Corp. has announced a joint venture with Mitsui & Co. to develop the Dawson Seamgas fields.