Coal mining acquisitions see Arch Coal buying out International Coal Group for $3.4 billion. This will allow Arch Coal to boost coal production for steelmaking grade coal and benefit from the soaring prices and global demand. It will also make Arch Coal the second largest U.S. producer of metallurgical coal by nearly doubling its production by 2015.
After months of anticipation and waiting Rio Tinto finally gets its hands on Riversdale Mining. Having taken control of the company Rio Tinto has moved to delist Riversdale Mining from the Australian Securities Exchange.
Sentula Mining and Shanduka Resources have decided to merge and form a strong mid-tier coal producing and mining services company. An announcement to this effect was made last week. 627 million new Sentula Mining ordinary shares shall be allotted to Sanduka Resources.
Riversdale Mining is being taken over by Rio Tinto but Tata Steel will continue to hold a stake in the coal mining company. B. Muthuraman the Tata Steel Vice Chairman said on Monday that the company would not divest its stake in the Australian miner currently being acquired by Rio.
Resource Generation (Resgen) is developing South Africa’s largest remaining coal deposit. It announced on Thursday that its joint venture at Ledjada had been granted a 30 year mining right for its Boikarabelo mine in South Africa.
Residents of coalfields in Virginia and West Virginia asked Alpha Natural Resources to stop mountain top removal near their homes.
Rio Tinto finally managed to get its hands on Riversdale Mining after Brazil’s CSN gave up its stake to them. On Wednesday Companhia Siderurgica Nacional or CSN announced that it had sold its 20% holding of Riversdale Mining to Rio Tinto because the price was right.
Namibia is expecting about $3.5 billion worth of investments into its mining sector over the coming five years. As per the Mines and Energy Minister Isak Katali, the mining industry accounts for 15% of its total economic output in terms of GDP in the financial year ending March 2011.
Mongolia is now set to make its mark on the global mining stage. The nascent industry has been receiving expressions of interest from international investors ever since the riches beneath the Gobi desert have been discovered.
The Australian Treasurer Wayne Swan spoke to the Queensland Media Club and told them that there would be no rivers of gold from the mining industry in the upcoming budget.
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