Rio Tinto releases Q4 2012 operations review
Global mining major, Rio Tinto, has released its Q4 2012 operations review, reporting a rise in thermal coal production but a drop in metallurgical coal production.
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Global mining major, Rio Tinto, has released its Q4 2012 operations review, reporting a rise in thermal coal production but a drop in metallurgical coal production.
Diversified US fuel producer, CONSOL Energy, has agreed sale of two coal assets in Canada for a total of US$ 127 million. The sale of these properties is part of an ongoing strategy sell non-core assets, which is expected to continue in 2013.
The US Energy Information Administration (EIA) has released its first Short-Term Energy Outlook for 2013. The EIA predicts average Brent crude oil and Henry Hub natural gas prices spot prices will fall compared to 2012. Coal’s share of the energy mix will rise.
Haohua Energy International has received the required Chinese government approvals to complete its US$ 100 million investment in Coal of Africa Ltd (CoAL). The investment will now be subject to shareholder approval at an extraordinary general meeting later this month.
Workers at a metallurgical coal mine in Australia have decided on industrial action in an ongoing pay dispute.
Joy Global is expecting another tough year in 2013, as mining CAPEX remains soft. The company will continue to cut costs and reduce production capacity in line with demand. Any positive news may come from China, where performance of its subsidiary, International Mining Machinery, should start to recover from a weak 2012.
Mining major, Anglo American, has appointed Mark Cutifani, current head of AngloGold Ashanti Ltd, to succeed Cynthia Carroll when she steps down in early April.
Deloitte has released its Tracking the Trends 2013, highlighting the top ten challenges facing the global mining industry next year. These include rising costs, managing demand uncertainty and growing resource nationalism.
At least 17 coal miners have been killed in a gas explosion in an underground mine in southwest China.
Coal miners in Indonesia’s East Kalimantan province are being left in limbo as production idles while prices on the international markets drop.
The Association of UK Coal Importers has called for a new coal strategy to complement the Government’s gas strategy.
Vale’s board of directors has approved a US$ 16.3 billion investment budget for project execution, sustaining existing operations and R&D.