CBC reported today that Teck Resources Ltd. (TSX:TCK.B) will delay the start of its Quintette coal mine in Tumbler Ridge, BC. Teck also plans to cut 600 jobs worldwide after posting profits amounting to less than half of what it made in last year’s first quarter.
Articles Tagged "Coal Company News"
The Guardian reported today that two workers were killed in a mine collapse on Tuesday night. A wall collapsed in the New South Wales Austar coal mine just after 9 pm, trapping the two men.
MicroCoal Technologies Inc. (CNSX:MTI) closed the first tranche of its previously announced non-brokered private placement for US$277,963, consisting of an aggregate of 1,389,815 units, priced at US$0.20 per Unit.
Mining.com reported that BHP Billiton (ASX:BHP) is looking to build the largest underground thermal coal mine in the world, but could meet opposition from locals who have a stake in the proposed location at Liverpool Plains, Australia.
Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) announced its annual results for the 2013 fiscal year and provided an outlook for 2014. Highlights included $3.3 million in slaes revenue from its Ulan Ovoo mine, the sale of a coal shipment to a Russian customer with views to increase sales to Russia, and the completion of a feasibility study regarding the road from Prophecy's Ulaan Ovoo mine.
Reuters reported yesterday that James River Coal has filed for bankruptcy protection after struggling against widespread moves towards cheaper natural gas in the U.S. and increasingly strict greenhouse gas emissions regulations. Prices fell by more than 40 percent on Monday.
Reuters reported today that Rio Tinto (ASX:RIO,NYSE:RIO) lost an appeal to the Australian Supreme Court to expand its Warkworth coal mine in New South Wales, Australia. Managing Director Chris Salisbury told Reuters that Rio Tinto will submit a revised plan for the mine that will include funding for woodland and employment programs and a 1,800 hectare National Park.
Challenger Deep Resources Corp. ("Challenger" or the "Company") (TSX VENTURE:CDE) is pleased to announce that it has entered into a binding Letter of Intent ("LOI") for the sale of its Barito coal project in Central Kalimantan, Indonesia. Under the terms of the LOI the purchaser, a private Australian company, will purchase all of the outstanding shares of PT Bestindo Energy, a wholly-owned subsidiary of Challenger which holds all of the Corporations rights to the Barito project.
Reuters reported yesterday that low coal prices have pushed Glencore Xstrata plc (LSE:GLEN) to suspend operations at its Australia-based Ravenswood mine.
Coalview Ltd. LLC announced that it has acquired all of the assets belonging to KeLa Energy LLC.