China’s record coal spree seen preventing any new energy crunch

The company said it failed to reach an agreement with a client in a dispute over a mining project in Latin America, prompting it to slash its profit forecast by more than 40% for the year.

The Andean nation is the world's fifth-largest exporter of coal.

Canada’s largest diversified miner saw its quarterly profit drop 41.5 % from the year earlier, amid lower prices for copper, zinc and oil.

To boost coal use in the US: Find a spot near a mine with no access to oil or natural gas pipelines, where it’s not particularly windy and it’s dark much of the year.

The company says it has seen a significant improvement over the past year, with prices up about 20%, but believes conditions are not where they need to be to restart idled capacity.

According to the industry group, such reform would encourage additional investment in capital and technology.

A Yancoal spokesman said that its Moolarben Coal complex had been directly impacted by the train derailment but that it was too early to advise of any potential impact to customers

Rescue efforts were hampered by dangerously high levels of toxic gas underground.

The Temple Mountain property was first mined in 1914.