ArcelorMittal today provided notice to Peabody Energy that, in accordance with the Co-Operation and Contribution Agreement between the two companies, following its acceptance of PEAMCoal Pty Ltd's offer for Macarthur Coal Ltd yesterday, it has terminated the Co-Operation and Contribution Agreement as provided for therein.
Aspire Mining is successfully continuing the exploration program at the Ovoot coking coal project. It has identified a formerly anonymous coal seam structure region for some 4 km to the north-east direction of the present Ovoot resource region.
Albania is looking to give its mining industry a major boost as it plans on issuing 151 mining licenses this year. The Ministry of Economy, Trade and Mining said on Thursday that they planned to allocate 20 of these mining licenses in weekly competitions.
A federal Judge in Washington ruled that the U.S. Environmental Protection Agency (EPA) was out of bounds when it began reviews of individual Clean Water Act permits for mountain top mining operations in 2009. The U.S. District Judge Reggie B. Walton issued a partial summary judgment on Thursday.
AK Steel has taken over a coal company for $36 million as per a statement it released this Tuesday. The American steel company also formed a joint venture with another company to produce iron ore concentrate.
Yancoal Australia is likely to buy more mines in Australia. The company which is a subsidiary of the fourth biggest coal producer in China, the Yanzhou Coal Mining company is looking at spending $1 billion to acquire new Australian mines.
Blackham Resources has reported positive results of lignite samples from the initial coal upgrading test work conducted at its Scaddan coal project, situated in Western Australia.
The Queensland State Government said that the new coal mine in Galilee Basin could generate close to 6,000 jobs during construction and 1,500 more during the actual life of the mine. The $8.3 billion worth coal project is being developed by Waratah Coal.
Sichuan Hongda Co. Ltd, has signed a deal worth $3 billion for a coal and iron ore mining in Tanzania. The Chinese company is one of many that are seeking a steady supply of raw materials from Africa to support its demand due to industrialization.
Australia’s export earnings from the resources and energy sector are likely to hit a record high of $215 billion as per official forecasts. The Bureau of Resources and Energy Economics forecast in its last quarterly report that a 21% increase was expected in the 2011-2012 export earnings.
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