Europe targets US coal in election-year trade staredown

Beijing’s decision to ease production has sent coal prices soaring this summer.

Coal miner Peabody Energy Corp, which filed for Chapter 11 bankruptcy protection in April,asked a bankruptcy court on Wednesday to let it pay up to US$11.9 million in incentives to its executive leadership team should the group meet certain performance targets.

New report shows commodity assets under management jumping to $235 billion, the best performance since 2009, largely due to physical gold ETF inflows.

"The global economy seems stuck in a subdued low-productivity growth pattern," says world's number two miner after reporting lowest earnings in 12 years.

The concept has been around for some time in various fields, including new technology, entertainment and media, and has been relatively successful. As a result, some mining companies have decided to utilise it.

CHART: The gold price may grab headlines, but coal's rally comes as a shocker – thermal prices are up 22% in 2016 and coking coal's back in triple digits.

Fresh off a bounce in the polls, Democratic nominee Hillary Clinton is promising to revitalize Pennsylvania communities hurt by a downturn in the coal and steel industries.

Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.

The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.