Mining

Coal mining company Universal Coal has increased expected EBITDA for FY2018 by 27%, up to AUS$70 million.

On Monday this week, the US Department of the Interior’s Office of Surface Mining and Reclamation Enforcement (OSMRE) announced that approval has been given for a mining plan which will extend the life of mine at Sufco mine in Utah.

The contribution from mining royalties to the NSW Budget “highlights the importance of mining and its vital contribution to state and national economies,” says Minister for Resources and Northern Australia.

Mechel and JFE Steel Corporation have agreed to prolong their long-term coal supply contract till 2021.

Hwange Colliery Company Limited is set to begin producing more than 300 000 t of coal per month come the end of June.

The transactions are intended to bolster the company’s balance sheet and extend upcoming debt maturities.

BHP Billiton Mitsubishi Alliance (BMA) has sold its Gregory Crinum coal mine to Sojitz Corp for AUS$100 million.

East Mining Company increases the number of excavator equipment in its opencast mining machinery park.

“We are very pleased to be able to further strengthen this relationship with BaoWu by assuming operatorship of Eagle Downs,” says South32.

OSMRE has proposed extending the San Juan mine mining plan area by approximately 4500 acres.

Colombia produced 19.6 million t of coal in 1Q18, compared to 22.2 million t in the same period last year.

The increased projections stem from the strong international demand for metallurgical coal, and the stable prices for both metallurgical and thermal coal from Queensland.

Japanese steelmakers have raised concerns about Aurizon’s actions to restrict the movement of metallurgical coal from central Queensland mines to export ports.

Following a co-operation agreement on 15 May, the FAMUR Group and its group of partners will co-operate in the procurement of orders on the Indian market in the mining and energy sector.

Mohegan Energy Trustees has acquired a West Virginian metallurgical coal operation from Met Resources through a US$100 million strategic partnership with Orion Energy Partners.