Australia’s South32 (ASX, LON, JSE:S32), which has been trying to get rid of its South African thermal coal operations for almost a year, is finally kissing the fossil fuel goodbye by selling .
After more than a year in limbo, Eagle Butte and Belle Ayr coal mines are getting closer to being transferred to an eastern coal company, but … Close The Belle Ayr Mine, owned by Contura Energy .
Even without these, the economic rationale is sketchy at best. The Galilee is the largest thermal coal basin proposed for development in the world. Adding up to 320mtpa of new high-ash, low-energy “HALE” coal would flood the seaborne thermal coal market with another 30 per cent of global capacity.
Cape Town – Seriti Resources has agreed to buy Anglo American’s Eskom-tied domestic thermal coal operations for R2.3bn, the mining company said in a statement on Monday. The transaction will make the company led by Chamber of Mines president Mike Teke the second largest supplier to Eskom, supplying almost a quarter of Eskom’s current .
Mr Barker has more than 30 years’ experience in metals and mining industry financing, investment and M&A advisory. He is currently the Managing Director of Mosaic Capital Pty Ltd, a corporate finance company, a non-executive director and founding director of Batchfire Resources Pty Ltd, which owns and operates a 12Mtpa thermal coal mining operation in Queensland, Australia, a non-executive .
However, by March 4, 83% of China’s coal mining capacity was operational and production is now expected to recover over the remainder of 2020 with a forecast decline of only 1.2% expected by the year end. Thermal coal production is expected to grow by 0.5% to 7.05Bnt, while metallurgical coal production is forecast to be flat at 1.1Bnt.
“While these PRB thermal assets will not be part of our company’s operational strategy moving forward, the purchaser is acquiring two solid mines with decades of minable reserves, a top-notch .
The operational 1,200 MW thermal power plant, with potential for additional 2,700 MW capacity, is located in Cuddalore, nearly 175 km south of Chennai. The project, housed under IL&FS Tamil Power Company Ltd, has a captive port for import of coal to the plant, which is held under Porto Novo Maritime.
UPDATE 2-Arch Coal sells Utah operations for $435 million . Arch Coal Inc said on Friday it had sold a group of thermal coal mines in Utah to privately held Bowie Resources for $435 million as .
The thermal coal policy applies to both existing and new thermal coal mines and power plants, and is implemented across all lines of business and Swiss Re’s global scope of operations. Patrick Raaflaub, Swiss Re’s Group Chief Risk Officer says: “It has been our goal to develop a comprehensive approach to coal underwriting.
Thermal coal. Commercial: Waterberg. Production at Grootegeluk rose 3 969kt (17%), mainly due to the ramp-up of Medupi. This also resulted in an increase in sales of 2 898kt (13%). Commercial: Mpumalanga. The commercial Mpumalanga mines' thermal coal production was 1 604kt (13%) lower, driven by:
The Moatize Mine in Mozambique has been producing coal since September 2011, and represents our biggest investment within the segment. One of our biggest challenges in this country is logistics. We have invested in a railroad that connects to a port - Nacala Corridor - in order to transport the mine’s output.
Anglo American will sell its Eskom-linked thermal coal operations in South Africa for $166 million, it said on Monday, marking an important step in the mining giant's strategic overhaul to sharpen .
Management touted the mine as the first thermal coal mine opening under the eased regulations of the Trump administration, but persistently low natural gas prices and unexpected technical issues left the project in a liquidity crunch. . Newly opened US thermal coal mine for sale after operational, market problems. . the sale of an equity .
Steel producers, which use higher-value metallurgical, or coking, coal, are also in a funk amid the trade war. Compounding that, a fire swept through one of Peabody’s coking coal mines in .
South32 has no interest in getting back into the thermal coal market after selling its South African energy coal mines, according to chief executive Graham Kerr, and has no interest in buying BHPs .
Private equity players have got the impression they are not BHP's preferred transaction partner, as the world's biggest miner works on ways to exit its thermal coal assets.
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion. The transactions include the sale of Rio Tinto’s interests in the Hail Creek coal mine and Valeria coal development project to Glencore for $1.7 billion, and its interest in the Kestrel underground coal mine to a consortium comprising private equity manager EMR Capital and PT Adaro .
Glencore’s coal business in Australia. Glencore is one of Australia’s largest coal producers with 13 mining complexes – including 17 operational mines – across New South Wales and Queensland. We employ 7,500 Australians and in 2016 managed the production of nearly 93 million tonnes of thermal and coking coal, predominantly for export.
The Ohio mines sell coal to a single customer, AEP, but the current coal supply contract only runs through 2019 and Westmoreland acknowledged that it does not expect the contract to be renewed. In fact, Westmoreland revealed in bankruptcy filings that its Ohio mines were only expected to generate revenue in 2019.
Westmoreland Resource Partners, LP is a low-cost producer of high-value thermal coal. It markets its coal primarily to large electric utilities with coal-fired, base-load scrubbed power plants under long-term coal sales contracts. For more information about Westmoreland Resource Partners, LP, please visit www.westmorelandmlp.com.
Chubb will not make new debt or equity investments in companies that generate more than 30% of revenues from thermal coal mining or that generate more than 30% of energy production from coal.
The company sold its interests in the Hail Creek coal mine and Valeria coal development project to British-Swiss multinational Glencore for A$1.7bn, as well as its 80% interest in the Kestrel underground coal mine to a consortium comprising EMR Capital and PT Adaro Energy for A$2.25bn.
The world’s second-biggest miner on Tuesday agreed to sell its last coal mine, the Kestrel operation in Australia’s Queensland state, for $2.25 billion to private equity firm EMR Capital and .
Coal Mining and Production: $0.124B: $0.333B: CONSOL Coal Resources LP manages and develops active thermal coal operations. The company engages in underground mines and related infrastructure that produce high- BTU bituminuous thermal coal. It primarily sells its coal to electric utilities in the United States.
Liberty Mutual announced Dec. 13 that in addition to an enhanced focus on environmental, social and governance issues, it will not make new investments in debt or equity securities of companies generating more than 25% of their revenues from thermal coal mining or utility companies that obtain more than 25% of their electricity production from .
CONSOL Coal Resources LP engages in the development of thermal coal operations. It manages Pennsylvania mining complex, which consists of underground mines, namely Bailey, Enlow Fork and Harvey.
Almost 60 per cent of the world's thermal coal and more than 30 per cent of Australian thermal coal is unprofitable at current prices, creating a horror backdrop for the long list of miners and .
LONDON, Oct. 5, 2016 /PRNewswire/ -- Synopsis This report provides a breakdown of mining cash costs per tonne for individual export thermal coal operations, company production and country .
The combined mine, rail and port operations will provide over 10,000 direct and indirect jobs and supply opportunities for local businesses, as per information available on the company's website. Adani Group is implementing coal mining projects with total annual coal production capacity of around 110 MTPA (million tonnes per annum).
South Africa is fortunate to hold the sixth largest coal reserves in the world (estimated to total 31 billion tonnes of recoverable coal – 11% of the world’s total). With the country’s highest concentrations, Mpumalanga, Limpopo and the surrounding regions have been at the epicentre of the local coal mining industry for decades.
Westpac shuns thermal coal, boosts green finance. James . derive more than 25 per cent of their revenue from thermal coal operations. . for thermal coal mines or projects to existing basins .
Coal is facing a shaky future, with dramatic reversals in the valuations of thermal coal mines, or suppliers to coal-fired power plants, in the U.S. in general and specifically thermal coal mines .
ICVL has also sought a global tender to sell thermal coal. ICVL was incorporated in 2009 with an objective of acquiring coal assets with equity participation from SAIL, CIL , RINL, NMDC and NTPC .
The price of coking coal, used in steelmaking, has surged 294 per cent since the beginning of the year, while thermal coal, used to generate energy, has risen 117 per cent in the same period.