Hong Kong listed Yanzhou Coal Mining Company has decided to buy thermal coal exploration and production companies in Queensland. The Yanzhou Coal Mining Co will spend $202.5 million on acquiring Syntech Resources Pty Ltd and Syntech Holdings II Pty Ltd, from GS Power Holdings.
Macarthur Coal Ltd refused an unsolicited $5.2 billion bid from a pair of industrial giants over the weekend. Peabody Energy Corp and ArcelorMittal had offered a 40% premium over the current stock market value for Macarthur Coal.
A coal mine near Singleton, NSW was ordered to shut down following concerns of unsafe methane gas levels. The Intergra underground coal mine stopped operations and evacuated workers as the Department of Trade and Investment issued the order to cease work until further notice while investigations get under way.
Aquila Resources and Vale have decided to resume shipping coal from their mine in Queensland. Aquila Resources said that despite the coal being allowed to be shipped from Isaac Plains mine it was to seek legal action to claim damages for the cancellation of earlier shipments.
The investigator in charge of looking into illegal mining activities in Karnataka, Santosh Hegde has accused the Chief Minister B.S. Yeddyurappa and other ministers of taking bribes from companies involved in the scandal.
In Queensland a Wagyû cattle breeding farm is to be sold to Xstrata. The Swiss mining giant is buying the 17,474 hectare pastoral farm from the Australian Agricultural Company. The deal has been struck for $21.6 million and the farm is to be sold minus the cattle and machinery.
The U.S. Environmental Protection Agency (EPA) has finalized the guidelines for surface mining and they include a new standard for judging the impact of mining operations on regional water quality. The surface mining guidelines have caused quite a controversy in the Appalachian coal county that includes Eastern Kentucky.
Campbell Newman a Liberal National Party leader said that the Queensland state government had failed to regulate the proper growth of the coal seam gas (CSG) sector in the state. The party wants stronger scrutiny of CSG mining and this was outlined by Shadow Primary Industries Minister Ray Hopper as well.
As construction of the Vele Colliery near South Africa’s Mapungubwe World Heritage site was approved for the Australian mining company CoAL of Africa Limited, protests have not settled down. However the Department of Environmental Affairs (DEA) insists that it was science and not emotion that allowed it to make the decision.
The ‘Tree Sitters’ are back protesting in the state of West Virginia. The Alpha Natural Resources mining company had to stop its blasting on Coal River Mountain on Wednesday as the protestors camped out in the trees performing in their own words ‘a non-violent direct action campaign’.
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