China’s nuclear war on coal

Cuts by banks in China to lending to coal traders is set to place further pressure on global prices for the carbon fossil fuel.

The financial and legal difficulties of Nathan Tinkler could damage Whitehaven shares (ASX:WHC) due to expectations that the Australian mining magnate will dump his holdings in the fledgling coal miner.

State-own Indian oil company Oil and Natural Gas Corp. (ONGC) denied Tuesday that, together with two other state-run oil firms, bid $5 billion for a stake in six Canadian oil sands assets owned by U.S. energy giant ConocoPhillips, as several media outlets reported Monday.

If you had any doubts over what mining giant Rio Tinto (ASX, LON:RIO) thinks about coal and small operations, today’s news should make it clear. The Anglo-Australian miner has agreed to sell two minor coal assets in South Africa to Canadian Forbes & Manhattan Coal for $53 million

Shares in Caterpillar Inc (NYSE:CAT), the world's largest earth-moving equipment maker, fell 2.2% after hours as the company cut its 2015 profit outlook. The company warned weaker commodity prices would result in a bigger-than-expected decline in demand, worsened by mining companies scaling back expansions and shelving major projects.

Rio Tinto is cutting even more coal mining jobs in Australia as the miner is struggling with a dramatic plunge in coal prices and a high Australian dollar.

Slated reforms to China's pricing system for the carbon fossil fuel indicate that the country's leading decision-makers anticipate a sustained decline in global spot prices.

The resource of the Peace River coal project in BC jumped 180% while the percentage of met coal was upped to 60% from 35% before.

The recent upward trend is comparable to price gains after QE1 and QE2 indicating the yellow metal is likely to cross $1,900 in October and $2,200 by the start of 2013.