Articles Tagged "Coal Market News"

‘Vulture Funds’ Targeting Distressed Coal Companies

According to the Wall Street Journal, 'vulture' hedge funds are targeting distressed coal companies such as Walter Energy (NYSE:WLT). The funds bet against shares and debt of ailing companies, before purchasing controlling shares of the same companies. If companies like Walter eventually go bankrupt, the fund is first in line to claim their assets should they file for bankruptcy.

China to Cap Coal Use in 2020

According to details released by China's State Council on Wednesday, the country's new energy strategy will see coal consumption capped at 4.2 billion tonnes in 2020, the New York Times reported. The strategy follows last week's announcement that China and the United States had signed a deal to cut emissions.

Indian Power Plants Rushing to Finalize Import Deals

Power companies in India are rushing to finalize import deals on the back of lower global coal prices, according to DNA India. Though low costs are making imports seem attractive, the rush has also been triggered by critically low coal supplies at many power plants in the country.

India May Open Commercial Coal Mining to Foreign Companies

In a bid to tackle the India's coal supply shortage - which happens despite the country sitting on the world's fifth largest coal reserves - Prime Minister Narendra Modi is considering opening up commercial coal mining to foreign companies, according to Reuters. Companies like Rio Tinto (NYSE:RIO) would be allowed to operate in India if they set up units in the country.