Coal of Africa Limited shares of Coal of Africa were up 12% at 9:54 a.m. ET after the junior coal producer announced it struck a marketing deal to expand its exports of coking and thermal coal.
Australian Whitehaven Coal Ltd shares went downhill Monday after a fake press release allegedly from the coal miner's major lender, Australia and New Zealand Banking Group, claimed it had withdrawn from a $1.3 billion debt facility.
The operation —a joint venture between BHP Billiton (ASX, NYSE:BHP), Anglo American (LON:AAL) and Xstrata (LON:XTA)— produced 34.6 million tons of coal last year, 4% more than the projected 33.3 million tons and exported 32.8 million tons, 2.5% over the 32 million ton target.
Canada risks stranding its resource bounty unless it adds new pipeline capacity to the West Coast, eastern provinces and the U.S., says Natural Resources Minister Joe Oliver, who believes the issue will be one of the biggest items on his plate in 2013.