Blaming severe weakness in U.S. thermal coal markets, Arch Coal, Inc. (NYSE: ACI) today reported first quarter 2012 net income of $1.2 million, or $0.01 per diluted share, compared with net income of $55.6 million, or $0.34 per diluted share, in the prior-year period.
Sales volumes were up 33% at Cameco, the world's largest uranium miner in Q1. Revenue increased 22% to $563 million and gross profit showed a gain of 31% to $178 million.
Anglo-Swiss Xstrata Plc. (LON:XTA) reported today mixed production results for its first quarter, with copper production declining 18%, but said operating and financial performance remains strong.
In what is considered a major milestone in the Indian nuclear program, the Uranium Corporation of India Ltd (UCIL) commissioned last week a new uranium mine, which may host one of the most significant reserves of the yellow material in the world.
Greenpeace recently published a new ad on YouTube that takes a swipe at Apple's reliance on coal to power its cloud computing services, however the environmental organization may have goofed when compiling its figures.
GigaOMtech predicts that the solar sector will do very well in India because the government is heavily involved in the coal and the oil and gas sector.
North America will head global energy investments this year, driven by boom in unconventional production, with a $392 billion on upstream capital and operating expenditures in the region, say global consultants from IHS.