Macquarie says iron ore, coal prices to remain strong into 2018
Prices for iron ore and coking coal, the two key ingredients for steelmaking, are set to remain buoyant for the remainder of the year, Macquarie Bank predicted in a recent report.
The financial and legal difficulties of Nathan Tinkler could damage Whitehaven shares (ASX:WHC) due to expectations that the Australian mining magnate will dump his holdings in the fledgling coal miner.
If you had any doubts over what mining giant Rio Tinto (ASX, LON:RIO) thinks about coal and small operations, today’s news should make it clear. The Anglo-Australian miner has agreed to sell two minor coal assets in South Africa to Canadian Forbes & Manhattan Coal for $53 million
Rio Tinto is cutting even more coal mining jobs in Australia as the miner is struggling with a dramatic plunge in coal prices and a high Australian dollar.
Slated reforms to China's pricing system for the carbon fossil fuel indicate that the country's leading decision-makers anticipate a sustained decline in global spot prices.
Both Australian trade minister Craig Emerson and treasurer Wayne Swan over the weekend entered the debate over whether the country is facing a period of decline as the country's resource-led economy loses steam.
It will be 12 to 18 months before there will even be any signs of a recovery in the eastern US coal sector says Monty Boyd, a major Caterpillar supplier for the region.
Diversified miner Xstrata (LON:XTA) and commodities trader Glencore International (LON:GLEN) have now until October 1 to decided on the $36 billion lauded merger.