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Weekly coal news highlights: 3 – 7 August 2015

Published by
World Coal,

A round-up news from 3 – 7 August 2015

US Clean Power Plan

  • The US president has announced the Environmental Protection Agency’s final Clean Power Plan, aiming to cut carbon emissions by 32% of 2005 levels by 2030.
  • The US National Mining Association has asked the US Environmental Protection Agency to stay the final Clean Power Plan until the courts have decided its legality.
  • Arch Coal outlines how the US Environmental Protection Agency’s final Clean Power Plan will not efficiently address climate concerns and many states are preparing to challenge it.
  • The West Virginia Coal Association responds to the Environmental Protection Agency’s regulations concerning carbon dioxide emissions from power plants.
  • Peabody Energy responds to the Environmental Protection Agency’s rules to reduce carbon emissions by indicating investment in technology is the key to attaining environmental goals.

Developments and projects

  • Millar Argent’s plans to develop a new opencast coal mine in south Wales have been rejects by the local council’s planning committee.
  • Semirara Mining Power Corp. plans to provide 1100 MW of coal-fired power capacity to meet increasing electricity demands in the Philippines in the next three to four years.
  • Two groups bid for Krabi coal-fired power project in Thailand. These bids will only be legally binding once the project obtains the environmental and health impact assessment approval.
  • The federal court overturns the Abbot government’s approval of Adani’s opencast and underground coal mine in Galilee Basin in Central Queensland, Australia.

Financial updates

  • Stanmore Coal has bought the shuttered Isaac Plains coal mine from is owners, Vale and Sumitomo, for AUS$1.
  • Glencore has started ‘business rescue proceedings’ – the South African equivalent of bankruptcy – at its Optimum Coal business after dispute with Eskom.
  • No. 3 coal miner in the US, Alpha Natural Resources, has filed for bankruptcy at a court in Richmond, Virginia.
  • CRESCO Project Finance achieves financial closure of Maamba Collieries Ltd’s coal and power project in Maamba, Zambia.

Corporate affairs

  • Patriot Coal has issued layoff warnings to over 1000 of its workers in Kanawha County, West Virginia, as part of its agreement to see many of its assets to Blackhawk Mining.
  • Peabody Energy appoints A. Verona Dorch as the new Executive Vice President, Chief Legal Officer, Government Affairs and Corporate Secretary.

Not to be missed …

  • Coal could make up over 55% of Vietnam’s power mix by 2030 – from 36% this year – as the country’s need for power explodes.
  • Laser mineral analysis technology developed at the University of Tasmania and applied to the field by Rio Tinto is to be made available to junior miners for free.

Written by Harleigh Hobbs

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