The Chinese Lunar New Year has seen steel mills stock up on inventory before the holiday period to maintain production. This has led to imports of the three key raw materials for industrial steel production to China rising this month and global prices going up consequently. These raw materials include iron ore, oil and copper.
Korea Resources Corp and Daewoo International Corp have made a non-binding offer to buy the Australian Whitehaven Coal company. Whitehaven is valued at $3.497 billion and has been on the market since late last year. Final bids are expected to be placed by April 2011.
In Kentucky 14 people have had a sit in outside the Governor's office in a bid to convince him to change his stance on mountain top coal mining. The protestors in the Kentucky State Capitol say that they are calling it the "I love the mountains rally". The Governor Steve Beshear said that he would not change his position regarding the issue.
A $30 million new share sale has been completed by NuCoal to fund studies on its Doyles Creak coal project in Hunter Valley. There was strong support for the placement of shares from new and existing investors.
By Cameron Chai
Energy deficient India is looking to develop a coal prospect in South Africa that is owned wholly by BHP Billiton. A joint venture of five Indian state run metals and energy companies known as International Coal Ventures may bid for the prospecting rights of the BHP South African unit based in the Mpumalanga region.
Ric Stowe the owner of collapsed energy supplier Griffin Coal is drawing millions of dollars in fees from the company even as the company owes over $1 billion to its creditors and staff.
BHP Billiton is expected to post record $15 billion earnings for the six month period pre-tax. This would give the company a $30 billion plus full year result. It has broken the record for biggest profits posted by a company in Britain with this. The last record was set by Shell three years ago when it unveiled profits of $27.5 billion.
Did you ever want to experience the working conditions of a mine without actually having to work in one? Now a museum in Leicestershire may be able to provide tourists with just that experience. Some ex-coal miners are helping the Snibston Discover Museum in Coalville recreate a coal face and pit pony stable as part of its popular colliery tour.
Americas Energy Company-AECo (OTCBB: AENY) has announced that Recoal, LLC has agreed to operate as one of our contract surface miners on both our Artemus Project and Hwy 92 Project in Southeast Kentucky.
In what promises to be good news for the Indian Mining community the Coal Minister Shriprakash Jaiswal and Environment minister Jairam Ramesh almost managed to reach a compromise on Tuesday.
The two ministries have b...
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