Coal’s US downfall is a lesson for power markets

About 350 people will lose their jobs when the mine closes in early 2019.

The results, which surpassed Wall Street expectations, come on the back of a modest increase in service sales and aggressive cost cuts.

Higher gold prices will push miners to restart or speed up development of projects, leading a fresh wave of mergers and acquisitions in the country, according to BMI Research.

A sharp reversal in metals and minerals prices during May see top mining companies shed billions in market value.

Rare earths content was tested using hydrofluoric acid, which is much stronger and more efficient than industrial methods, but is too hazardous to use on a large scale.

The figures demonstrate that developing nations in South East Asia require high quality coal to meet increased electricity demand, powered by the growing urbanization of the population.

The group also announced it would sell its Noble Americas Energy Solutions (NAES), one of its crown jewels.

Other firms interested in the mines include BHP Billion, South32 and X2, with varying reports as to which remain in contention.

Significant brown and greenfield projects through 2020 nearly outnumber the next ten countries on the list.