Mining

The largest coal mining company in northeast China is to cut 100 000 jobs as the industry continues to struggle against low prices.

A round-up of some of this week’s key news items from the international coal industry, from sales and acquisitions to the latest on coal mining operations.

Caterpillar Inc. announces significant restructuring and cost reduction actions to lower operating costs by US$1.5 billion.

A simple scripted solution applying HARP modelling adds value to the overall mine planning process at the Glendell coal mine.

Accenture Internet of Things Centre of Excellence for Resources opens in Singapore to assist companies in Asia Pacific to get the most out of advances in technology.

The Department of Energy permits Semirara Mining and Power Corp, a unit of DMCI Holdings Inc, to resume mining operations at its Panian opencast mine in central Philippines.

The number of new and reactivated US coal mines has dwindled over the past few years according to a report by the US Energy Information Agency.

The Indonesia government has executed a new final income tax on any sale of mineral and coal.

Alaska’s only operating coal mine will cease exports on low coal prices and weak demand.

BHP Billiton paid US$7.3 billion in taxes and royalties in the 2015 financial year as part of a broader economic contribution of US$35.7 billion.

Chris Curfman, Vice President of Caterpillar’s Global Mining Division, retires from the company, effective 31 December 2015.

Australian coal producer, New Hope, has reported a statutory loss of over AUS$20 million after impairments and other non-regular items hit the company’s bottom line by AUS$73.6 million.

There may be a way to go yet before the mining industry reaches the bottom of the cycle.

Cambrian Minerals Group Inc. appoints Tom Myatt, a well-known mining executive, to its Senior Management Team.

According to a new report by Timetric’s Mining Intelligence Center, more mines in Latin America are planning to significantly increase their spending over the next twelve months compared to any other mining region.