The Elk Creek coal mine in western Colorado had been given permission by the Bureau of Land Management for an expansion but the Sierra Club and the Wild Earth Guardians group are challenging the decision. They have filed an appeal with the Board of Land Appeals registering their opposition.
Coalspur Mines Limited (ASX: CPL, TSX: CPT) has announced that the interpretation of the first phase development drilling has indicated the potential for the Silkstone seam to extend for over a 16km strike length within the Company's flagship project, the Vista Coal Project.
Glenn Stevens, the Reserve Bank governor, warned Australians that the mining boom would not last forever and they need to save for the time when commodity prices will fall.
Riversdale Mining Ltd will see Tata Steel Ltd continue as a major stakeholder. The Indian steel company currently owns a 24% stake in the Australian coal mining company.
A petition to oppose a 100% 'fly-in, fly-out' mine in the Central Highlands, Queensland has been tabled by Ted Malone the member for Mirani.
With record profits announced by BHP Billiton and the alleged loss of tax funds due to the renegotiation of the new mining tax, there has been a call by the Australian Greens to impose a higher tax on mining companies.
Challenger Deep Resources Corp. (TSX VENTURE:CDE) has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, entered into a Memorandum of Understanding with the principal shareholder of PT Pelangi Kertanegari, which gives Challenger the exclusive option, for a period of one year, to purchase all of the shares of PT Pelangi.
Coalspur Mines Limited (ASX: CPL) (TSX: CPT) has announced that the second phase of development drilling at the Company's flagship project, the Vista Coal Project has now commenced.
First half year profits of BHP Billiton took a record leap of a 71 % to reach a profit of $10.6 billion of which $10 billion will be returned to shareholders. Reuter’s analysts had predicted a profit of $10.3 billion for the same period and they were also surpassed.
Australia will collect about $60 billion less in mining tax over the next ten years than previously predicted thanks to the changes made in the proposed mining tax last year prior to the elections. The treasury figures say that the original unhampered tax would have collected Australian $99 billion between the financial years of 2012/13 to 2020/21.
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