Illinois Governor, Pat Quinn, exercised his veto power late on Friday to reject a bill that would have forced natural gas utilities to acquire synthetic gas at prices double the current market rate for the next 30 years.
Xstrata Coal confirmed Monday it has cut a number of jobs from its coal mining operations in Australia, due to sinking prices for both coking and certain kinds of thermal coal.
Coal India board is likely to approve on Monday the model fuel supply agreement (FSA) to be signed with power firms, with significant changes in the penalty clause for failing to supply to them a minimum 80 per cent quantity of the total fuel contract.
Coal chief executive Peter Freyberg has called the bottom of the thermal coal market, telling investors last week ''we are seeing recovery in the markets''.
The Mexican government halted operations at the coal mines in the northern state of Coahuila on Thursday due to safety issues that have already caused the death of 13 coal miners in the last three weeks.
According to Louis James, the senior editor of the International Speculator and Casey Investment Alert, the manic highs and lows of the market are good for those who have mastered the discipline of buying low and waiting.
While timing exactly when the rebound will happen is impossible, Marshall Auerback, director of Pinetree Capital, believes now is the time to pay the gold market renewed attention.