Explosion in Chinese coal mine leaves 32 dead 

A proposed new coal mine in Queensland is so massive it is likely to do more harm to the local economy than good.

Bloomberg reported that Billionaire Mr Ziyavudin Magomedov Summa Group won the right to build a RUB 44.3 billion section of a railroad to coal fields in East Siberia near deposits to be developed by Evraz Plc and OAO Severstal.

The Office of Surface Mining Reclamation and Enforcement on Thursday, together with Secretary of the Interior Ken Salazar, announced $485 million is being given to states and tribes to eliminate health and safety hazards caused by past coal mining.

Job seekers in the Australian mining and construction industry were likely to benefit from a favourable hiring climate in the first quarter of 2012, said recruitment solutions provider Manpower.

Canada is sitting on nearly 4% of the world's coal resources, with at least 80 billion tonnes of exploitable coal and 8 billion tonnes classified as commercially feasible under today's conditions.

MILWAUKEE--(BUSINESS WIRE)-- Joy Global Inc. (NYSE: JOY), a worldwide leader in high-productivity mining solutions, today reported fourth quarter and full year fiscal 2011 results. Fourth quarter bookings increased 33 percent to $1.4 billion in fiscal 2011, compared to the fourth quarter of last year. Operating income increased 31 percent to $296 million on a revenue increase of 27 percent to $1.3 billion.

Global demand and prices for coal will continue to expand aggressively over the next five years despite public calls for reducing reliance on the high-carbon fuel as a primary energy source, said the International Energy Agency (IEA) in its first ever report about the commodity.

Australia edged closer to the creation of a new 10 billion Australian dollar (US$10.02 billion) port focused on exporting coal to Asia when the state of Queensland allocated land to units of Brookfield Asset Management Inc. BAM +2.16% and India's Adani Group for two terminals at Dudgeon Point on Wednesday.

Just one week following Anglo American's approval of a $1.7 billion met-coal project in Queensland, the London-listed diversified miner may be shopping for more coal assets.