Novadx Ventures Corp. (TSX VENTURE:NDX) has announced that it, together with its wholly owned subsidiary, MCoal Corporation, has entered into a Coal Production Payment Agreement and an Additional Coal Purchase Agreement with Sandstorm Metals and Energy Ltd. (TSX VENTURE:SND) to sell a production interest in three coal streams in return for a US$38 million advance payment and subsequent additional payments to be received on shipment of coal.
A coal terminal that has been proposed in Longview, Washington State could be sending major coal exports to Asia within the next couple of years. The company which hopes to develop the terminal, Ambre Energy, received approval on Tuesday from the Cowlitz County Board of Commissioners.
The mining industry is the largest generator of jobs in Queensland with more than 130,000 jobs being created directly and indirectly by the industry in the last year in Brisbane alone, according to a Queensland Resources Council report released this week. The Queensland mining industry has also generated around $3.8 billion in income tax in the last financial year as well.
Farmers in southern Queensland, Australia are willing to be jailed as part of their protest campaign against planned coal and gas mining in the region.
29 miners trapped in a Chinese mine were rescued on Monday. The China Central Television broadcast live images of people being rescued from the coal mine in the Sichuan province.
Anglo American has decided to sell the Callide thermal coal mine in central Queensland located south west of Gladstone. The decision comes as the mining company wants to maintain focus on its high margin export businesses. No value has been placed on the Callide mine by the company.
Close on the heels of the ordeal of 33 Chilean miners trapped in an underground copper mine, yet another tragedy has struck the mining industry. 29 men are trapped down the Pike River coal mine in New Zealand. There has been no contact with the miners since an explosion ripped through the Pike River colliery. Naturally occurring methane gas is thought to have caused the coal mine explosion. High levels of gas have been detected near mine ventilation shafts.
The federal treasurer Wayne Swan predicted that Australia would move into its biggest mining boom phase in October, possibly the largest since the 1850s.
The European Union is seeing the shortage of raw materials as a major risk for the global economy as demand begins to exceed supply. European Union trade chief Karel De Gucht said that no country possessed all the raw materials that it needed.
Atlas Iron, an Australian iron ore producer, with a number of key projects located within 150 km of the port of Port Hedland in Western Australia is closing in on consolidating a deal which would allow it to use one of BHP Billiton's Pilbara railway lines.
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