Product launch and acquisition are the key growth strategies adopted by the leading market players, such as Caterpillar and Komatsu, to strengthen their foothold in the market.
Report claims that Walter Energy, Patriot Coal, Alpha Natural Resources, Arch Coal and Peabody Energy also allocated more than half a billion dollars for top executives salaries in decade before going bankrupt.
It will raise its annual exploration spending by 29%, allocating nearly all its $900 million budget to finding new copper and oil deposits in the fiscal year beginning next month.
It is an open secret that the global electric power industry of which the coal industry forms a part is experiencing a system-wide reduction in both volumes and prices of energy resources.
Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.