Aussie mines too costly to shut

Bloomberg reports South Africa risks cutting the mine output that contributes 8.8% of the economy as calls from within the governing political party for a state takeover of the industry deter investors, Impala Platinum Holdings said. Mine operators in South Africa are compelled by law to sell 26% of their assets to black investors by 2014 and boost numbers of black managers to help make up for discrimination during apartheid. Some companies had missed targets for 2009, the mines minister said at the time, adding that the industry had “not lived up to the spirit and intent” of the law.

China’s massive appetite for commodities is creating concerns for the global economy, the environment and workers in other countries. In a series of reports, VOA is looking at the economic power modern China wields. Chinese government and company officials are signing agreements at a dizzying pace around the world, including in places where few other foreigners invest.

Coal export tax rate would be expected to surge from the current 15 percent to 20 percent in a bid to restrict export of the fossil fuel, the Vietnam Ministry of Finance (VMF) said on Tuesday. VMF's proposal was made after the Vietnam Coal and Mineral Industries Group (Vinacomin) imported 9,500 tons of low-quality coal from Indonesia to supply power thermo-electric plants in Vietnam, making the country to become a coal importer for the first time.

Federal investigators are preparing to release their latest findings about the Upper Big Branch mine explosion to the families of the 29 coal miners killed in the April 2010 tragedy in southern West Virginia. Mine Safety and Health Administration

Xstrata Coal has chosen to upgrade its existing fleet of simulators based in the Hunter Valley NSW, Australia to three PRO3 base simulators and a range of equipment modules units from Immersive Technologies. This purchase supports Xstrata Coal’s ‘SafeCoal’ approach which drives the delivery of correct safety skills training to the operator workforce. The new PRO3 simulators enable Xstrata Coal to simulate a range of emergency scenarios with realism without any risk exposure to people or equipment. It is also a useful tool for pre-employment screening, targeted and refresher training.

Iron, zinc and coal miner China Natural Resources shed 20% of its value on the Nasdaq stock exchange in morning trade on Monday in the absence of any fresh news about its operations while China Shen Zou Mining lost over 8%, the worst performers in the sector. Investors are continuing to worry about the soundness of Chinese companies that came to the US market through so-called reverse listings with the value of the 98 companies declining sharply in recent weeks as creative accounting and other irregularities are uncovered at firms engaging in operations as diverse as software and timber.

Tata Steel and SAIL's equal joint venture, S&T Mining Company, will set up a 1.8 million tonnes per annum (mtpa) coal washery at Bhelatand, in Jharkhand, through an investment of Rs 200 crore.

Mongolian-focused coking coal explorer Aspire Mining Limited has lifted production expectations for its Ovoot Coking Coal Project (Ovoot) based on the latest compilation of coal washability test results. Results from recent coal washability testing confirm a very high theoretical yield of 80% to produce a product with 8% ash content and CSNs of 8 to 9, making it potentially the lowest ash coking coal product in Mongolia.

The U.S. Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, has reported that U.S. coal exports in the first quarter of this year were 26.6 million tons, representing the highest level of quarterly coal exports since 1992, when 27 million tons of coal were exported from the U.S. Coal exports were up 49% from the corresponding quarter of 2010 and were double first-quarter 2009 levels. Industrial Info is tracking more than $12.8 billion in active U.S. projects involving the mining and processing of coal. The increased demand from abroad is helping fuel not only grassroot coal mine construction, but also the expansion and restart of existing coal mines.