Articles Tagged "Coal Company News"

Corsa Coal to Purchase Met Coal Producer PBS Coals for $60 Milllion

Corsa Coal Corp. (TSXV:CSO) has entered into an agreement with Lybica Holding B.V., a 100 percent owned subsidiary of OAO Severstal (LSE:SVST), among others, in order to acquire all of the issued and outstanding shares of Lybica’s wholly-owned subsidiary, PBS Coals Limited through an all-cash transaction for consideration of US$60 million, subject to customary adjustments for working capital and debt.

MicroCoal Technologies Closes Fifth Trance of Previously Announced Private Placement

MicroCoal® Technologies Inc. CSE: MTI,FWB:OFS.F,OTC:CFQSF) has closed the fifth tranche of its previously announced non-brokered private placement in the amount of US$335,000. MicroCoal plans to use the net proceeds from the private placement to advance construction on its first commercial facility in Indonesia for upgrading low rank coals as well as for general corporate purposes and for working capital.

Indian Power Plants Have Only One Week’s Worth of Coal Left, Coal India Not Meeting Demand

Reuters reported today that India, already the worlds third largest coal importer, has said that almost 50 percent of its coal fired power stations only have enough supplies to last a week. Coal India (NSE:COALINDIA) the world's largest coal producer, has not increased its output quickly enough to keep up with rising demand, according Reuters.

MicroCoal Technologies Closes Fourth Tranche of Private Placement

MicroCoal® Technologies Inc. (CSE:MTI,FWB:OFS.F,OTC: CFQSF) has closed the fourth tranche of its previously announced non-brokered private placement amounting US$167,000. MicroCoal plans to use net proceeds from the private placement to advance construction on its first commercial facility in Indonesia for upgrading low rank coals as well as for general corporate purposes and working capital. Additionally, MicroCoal intends to continue with a fifth private placement following the same terms and conditions contained in its March 3 2014 press release.