100-year-old Australian mine given a second chance

The number of deaths caused by coal mine gas explosions in China declined sharply during the first half of this year, coal mine safety authorities said. A total of 245 people died in 62 gas explosions that occurred between January and June this year, a year-on-year reduction of 31.2 and 25.3 percent respectively, the State Administration of Coal Mine Safety said.

China will need large quantities of Australian raw materials as its industrialisation and urbanisation race ahead, despite concerns about weak global economic conditions, Australian Trade Minister Craig Emerson said on Friday. Emerson also hinted that a fall in the Australian dollar amid the volatility that has jolted global financial markets for the past week was good, saying its strong currency had hurt manufacturing and exporters.

Forbes & Manhattan Coal Corp.announced its first quarter financial results for the three months ended May 31, 2011. First quarter financial highlights were the following: revenue of $19.6 million; gross profit of $4.2 million; and consolidated EBITDA of $5.6 million and Slater Stand Alone EBITDA of $6.2 million (see non- GAAP measures); and cash and cash equivalents of $19.8 million. The average monthly revenue for the first quarter 2012 was $6.5 million. In fiscal 2011, from the date of acquisition to February 28, 2011 (a seven month period), average monthly revenue was $3.9 million. This represents a 65% increase in average monthly revenue.

For around $2 a day some Afghan children as young as 10 work long hours in the country's coal mines with no safety gear and, until now, no government mining policy to protect them. While national law allows Afghan children to work up to 35 hours a week from the age of 14, they are not allowed to do hazardous jobs such as mining.

Energy-starved Bangladesh is sitting on a huge deposit of coal without any effective exploration plan for its use in generation of electricity, experts said on Wednesday.

BHP Billiton is confident about sustained growth in China despite the worldwide market turmoil, Chairman of the world's biggest miner said on Wednesday. Speaking at a business lunch in Sydney, BHP Billiton Chairman Jacques Nasser said the global market turmoil has not changed the company's view of sustained growth in China. China buys about 30 percent of BHP's exports, and Nasser says the company is positive about China's future.

AUSTRALIAN miner Cockatoo Coal has put its Taabinga thermal coal project in Queensland up for sale, an informed source said today, in the latest sign that deal-flow in the coal sector is accelerating. Sydney-based Cockatoo - one of a handful of listed Australian companies with producing coal mines - has appointed advisory firm RFC Corporate Finance to handle the sale of the Taabinga project, which has an estimated 252 million tonnes of undeveloped coal resources.

Brazilian mining titan Vale SA (VALE) said Tuesday the first coal train arrived Monday at the Mozambican port of Beira. The first train carried 2,200 metric tons of coal from Vale's Moatize coal mine in the northwest province of Tete.

SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq: SCOK) (the "Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today announced that Hongchang and Xingsheng coal mines have been cleared to resume operations at full capacity. The Hongchang mine has been operated by Baofeng Hongchang Coal Co., Ltd., a subsidiary of Henan Pingdingshan Hongli Coal & Coke Co., Ltd. ("Hongli"), which the Company controls through contractual arrangements. Baofeng Xingsheng Coal Mining Co., Ltd. ("Xingsheng"), of which 60% equity interest is now registered to Hongli, has been operating the Xingsheng mine.