Burning more coal to cut pollution – India’s distressing dilemma: Russell
India’s New Delhi banned the burning of petroleum coke on Nov. 1, part of measures aimed at curbing air pollution, which last week reached 10 times the recommended limits.
Coal of Africa Limited shares of Coal of Africa were up 12% at 9:54 a.m. ET after the junior coal producer announced it struck a marketing deal to expand its exports of coking and thermal coal.
Australian Whitehaven Coal Ltd shares went downhill Monday after a fake press release allegedly from the coal miner's major lender, Australia and New Zealand Banking Group, claimed it had withdrawn from a $1.3 billion debt facility.
The operation —a joint venture between BHP Billiton (ASX, NYSE:BHP), Anglo American (LON:AAL) and Xstrata (LON:XTA)— produced 34.6 million tons of coal last year, 4% more than the projected 33.3 million tons and exported 32.8 million tons, 2.5% over the 32 million ton target.