Coal Top Stories

Anglo’s top shareholder to call vote on assets sale plan

South Africa's Public Investment Corporation (PIC), which owns 14.5% of…

Coking coal prices are on fire — up more than 80% in six months

This kind of coal, used in steel-making, jumped 41% in…

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New $3.9 billion Australia coal export terminal faces more delays, ballooning costs

A new coal terminal proposed for Gladstone port's Wiggins Island in Queensland has met with delays for the third time this year, as the project's 16 coal company shareholders including Cockatoo Coal, Yancoal and Xstrata have still to raise all of the capital for the project. Costs for the first stage of the Wiggins Island coal terminal have escalated to A$3.7 billion ($3.9 billion) from A$2 billion in October 2010, a spokesman for the coal industry consortium that is backing the terminal said Wednesday.

One tree-sitter arrested at ex-Massey mine

One protesters associated with the Radical Action for Mountain People's Survival Campaign has been arrested after climbing down from a tree platform he has been occupying at Coal River Mountain West Virginia since July 20. Becks Kolins (pictured on the left) was arrested by state police. Kolins and Catherine-Ann MacDougal climbed the trees to protest operations at the Bee Tree surface mine owned by Alpha Natural Resources, the company that bought Massey Energy following a deadly blast at one of its coal mines. McDougal says she's staying put.

Xstrata profits jump 27%, expects even better second half

Anglo-Swiss mining giant Xstrata said on Tuesday its first half net profit jumped 27 per cent to $US2.9 billion and that it expected even better earnings for the second half. "A substantially stronger financial performance in the first half reflected growing demand for our products from emerging Asian economies and recovering Western markets," Xstrata chief executive Mick Davis said in a statement.

South Africa mine nationalization ‘closest since end of apartheid’

Businessweek quotes a confidential report prepared for South Africa's mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand. Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks. Malema is never far from headlines in the country with racially charged comments but now an anti-corruption police unit is probing a trust fund owned by him allegedly being used to funnel payments in exchange for securing government tenders.

150,000 South Africa coal workers to return to work Tuesday

Workers in South Africa's coal sector are expected to return to their posts on Tuesday after the unions and the SA Chamber of Mines signed a two-year wage agreement, ending an eight-day strike. 150,000 workers at miners Anglo American Thermal Coal, Delmas Coal, Exxaro Coal Mpumalanga, Kangra Coal, Optimum Coal and Xstrata Coal were on strike over wages. Talks with striking workers in the country's gold sector, where 200,000 workers are on strike continued on Monday. Mineworkers are asking for a 14% wage increase – far above the inflation rate in Africa's largest economy which hovers around the 4% level.

Reuters: Ukraine mourns after 37 die in mine accidents

Two separate accidents at mines in Ukraine have claimed the lives of 37 miners, Reuters reported Sunday: Rescue work ended on Sunday at two Ukrainian coal mines where accidents killed 37, and the former Soviet republic held a national day of mourning. An explosion in a mine in the Luhansk region early on Friday killed at least 26 people and injured two, according to an updated report on the Emergencies Ministry website. Also early on Friday, 11 miners died and four were injured at a state-owned mine in the neighbouring Donetsk region when a piece of heavy machinery collapsed.

Let’s get political: Olivia Newton-John raises alarm over fracking near Byron Bay

A grassroots movement opposed to coal-seam gas (CSG) mining got a boost of star power on Saturday, when 70s pop singer Olivia Newton-John panned the controversial practice. The Australian singer, who starred alongside John Travolta in the hit movie-musical Grease, launched a scathing attack on the mining industry after learning several sites near her luxury Byron Bay resort were under threat, The Sunday Telegraph reported. In an open letter to Australians warning about the health effects of hydraulic fracturing, or fracking, Newton-John says she is "horrified to learn of the extensive plans for coal-seam gas and shale gas exploration in Australia." Image of Olivia Newton-John is from Wikimedia, by gdcgraphics.

Wales to celebrate Christmas by re-opening 200-year old coal mine

Wales Online reports mining at the historic Tower Colliery in Wales could begin again as soon as Christmas after a £30m scheme to regenerate the site was given the green light by councillors of the nearby town of Rhondda Cynon Taf earlier in the week. Tower Colliery was the oldest continuously worked pit coal mine in the United Kingdom at the time of its closure by British Coal in 1994 with a history dating back to at least 1805. It was bought out by the laid off miners and re-opened the next year before finally shutting down in 2008.