Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) announced today that its wholly owned subsidiary, Cliffs Australia Coal Pty Ltd, has entered into a definitive share and asset sale agreement to sell its 45% economic interest in the Sonoma joint venture coal mine located in Queensland, Australia to QCoal Sonoma Pty Ltd (QCoal).
The requirement for coal during the current year in the United States has been pulled down significantly due to reduction in natural gas prices, which has resulted in a bad phase for coal stocks.
After ascertaining the viability of the venture, Bandanna Energy has invested to develop the Springsure Creek subterranean coal project and has taken a senior secured bank guarantee facility of 67 million Australian dollars from Credit Suisse.
Arch Coal today announced that Vindex Energy Corporation has received the 2011 Maryland State Excellence in Reforestation Award from the Appalachian Regional Reforestation Initiative (ARRI). The award recognizes "exemplary performance using the Forestry Reclamation Approach (FRA)" at Vindex Energy's Carlos mine in Allegany County, near Frostburg.
Taxpayers missed out on an estimated $28.9 billion in revenues over 30 years due to the failure of the federal Bureau of Land Management (BLM) to get fair market value for U.S.-owned coal mined in the Powder River Basin,...
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes left the Port of Beira today, bound for an Indian steel mill.
APR Energy is proud to announce the operation of its 120MW diesel-fired power plant, located just east of Limassol, Cyprus. APR Energy signed a contract in May with the Electricity Authority of Cyprus (EAC) to provide a peak season solution in time for the Mediterranean summer. Using its latest enhancements in plant design, deployment and logistics, APR Energy was able to prepare the site and have the plant installed and operational within 20 days of equipment arrival – ahead of the contracted schedule.
The National Coal Council (NCC) today presented the U.S. Department of Energy with the results of a comprehensive study requested by U.S. Secretary of Energy Steven Chu. The study, "Harnessing Coal's Carbon Content to Advance the Economy, Environment and Energy Security," concludes that widespread deployment of carbon dioxide capture and utilization (CCUS) technologies at coal-based power and liquid fuels production plants could help increase domestic oil production by more than 3.5 million barrels a day for 40-plus years.
Mr. Erik Bethel, Managing Partner of SinoLatin Capital, the premier investment platform between China and Latin America focused on natural resources and commodities, spoke at the 2012 Mines and Money Beijing Conference, June 19-21st, 2012 at the China World Summit Wing.
Arch Coal, Inc. today announced plans to idle several operations and to reduce production at other mining complexes in Appalachia due to the unprecedented downturn in demand for coal-based electricity. Today's actions, along with other recent changes in Appalachia, will result in a total workforce reduction of approximately 750 full-time employee positions.
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