Strong export prices are providing healthy cash flows for now. But with U.S. utilities largely shifting to cheap natural gas and clean renewables, there’s not much reason to dig new mines or scoop up acquisitions.
West Cumbria Mining plans to open the country’s first new deep coal mine is a step closer after councillors in the English county of Cumbria unanimously approved the project.
Kameron Coal’s Donkin mine has received four orders and six warnings from provincial authorities since limited production restarted on Jan. 25, following a roof cave-in last year.
Chinese coal traders are reported to have cut back on buying from Australia after the length of time taken by customs to clear cargoes reportedly doubled.
Eleven years ago, Cloud Peak Energy Inc. made an all-or-nothing bet its rivals were unwilling to match: that coal would remain indispensable to the U.S. power sector.