Weekly coal news highlights: 24 – 28 August 2015

Published by Harleigh Hobbs, Editor
World Coal, Friday, 28 August 2015 15:45

Sales and acquisitions

Vale continues to divest non-core holdings by intending to sell its Integra coal mine complex in Australia to Bloomfield Group and Glencore Plc.

Galilee Energy complete acquisition of the remaining 50% interest in AT 529P coalbed methane project from AGL Energy, enabling the company full operatorship fast tracks ability to test new completion strategy.

Total has announced that it has closed the sale of its South African coal mining assets, following government approval of the divestment.

Expansions

Oxifree Global plans to expand in mining sector with minority investment from Octopus Investment.
RWE is combining its support to both mining and power generation companies and providing engineering services to companies in the raw materials and energy business to create RWE Technology International.

Coal reserves and production

According to the latest report from the US Energy Information Agency, coal production in the US for the week ending 15 Augustrose for the second straight week but continues to fall short of last year.

India’s coal consumption is overtaking domestic production and the government has set a coal production target of 1.5 billion t by 2020. The US Energy Information Administration looked at ways to meet this.

Cloud Peak Energy enters an agreement with a local landowner near the Cordero Rojo Mine to access additional coal reserves and potentially develop the mine.

Financial reports

Chinese coal company, China Coal Energy, made a loss in 1H15 as domestic coal demand continues to shrink.

China’s largest coal company, Shenhua, has announced a significant fall in projects as the Chinese coal sector struggles with oversupply.

BHP Billiton has announced underlying earnings from its coal business of US$348 million in the twelve months to 30 June 2015.

Not to be missed …

Jack Mallen-Cooper looks at how dust and spillage prevention technology can solve major environmental issues while boosting production.

Bill Raney, President of West Virginia Coal Association, details an outlook on Obama’s Clean Power Plan and how it will affect coal mining in West Virginia.

Written by Harleigh Hobbs

Read the article online at: https://www.worldcoal.com/exploration-and-development/28082015/weekly-coal-news-highlights-24-28-august-2015-2791/

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