Australian coal miners recapitalise, eye BHP assets and other M&A

As soon as the sale was completed, Rio received $150 million in cash and is set to get an unconditional cash payment of $50 million due in 12 months.

The members of Federal Energy Regulatory Commission have already thwarted one effort to bail out uneconomic power plants.

Under the planned $2.25 billion transaction, Adaro will take a 48 percent stake of Rio's current 80 percent interest in the mine.

Anglo American Plc is set to boost metallurgical coal capacity at a mine complex in Australia by 25 percent.

The Halifax, Nova Scotia-based miner also said it had launched an offering of common shares to Mongolian residents, as well as a concurrent non-brokered private placement, which in combination are expected to raise up to $4.4 million.

Britain’s Royal Bank of Scotland said it had tightened restrictions on project finance and general lending for high-carbon energy projects and companies.

Chinese officials are currently looking at boosting purchases from West Virginia in particular.

Miners in recent decades have been over-exposed to dust, a University of Illinois researcher said.

However, the Canadian Mining Eye index — which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mining companies — dropped 8% in the three months to March 2018.