US court rejects coal CEO Blankenship bid to remain free during appeal

India's Tata Steel on Thursday agreed to sell its 26 percent stake in Australia's Riversdale to Rio Tinto for $1.1 billion, giving the Anglo-Australian giant full control of the coal miner. Tata, the world's No 7 steelmaker, will sell shares in an open offer at A$16.5 each. Riversdale shares closed little changed at A$16.50 in Sydney on Thursday before Tata Steel's announcement.

Arch Coal has completed its acquisition of International Coal Group through a merger, with ICG becoming a wholly owned subsidiary of Arch. The aggregate value of the transaction totalled $3.4 billion. The acquisition adds nearly 13 Mt of low-cost Appalachian thermal coal production to Arch’s vast domestic thermal coal portfolio, solidifying the company’s number two position among US-based coal miners. With expected metallurgical coal sales of 11 Mt in 2011, Arch also becomes the second largest US metallurgical coal producer and a top ten global supplier to steelmakers. By capitalising on expansion opportunities, Arch expects to boost its metallurgical coal output to nearly 15 Mt by 2015.

According to the latest BP Statistical Review of World Energy coal consumption grew by 7.6% in 2010, the fastest global growth since 2003. Coal now accounts for 29.6% of global energy consumption, up from 25.6% 10 years ago and the highest since 1970. Chinese consumption grew by over 10% and China last year consumed nearly half of the world’s coal. In contrast just 1.8% of global energy consumption comes from renewable sources such as hydroelectricity, biofuels, wind and nuclear power stations. The comparative figure a decade ago was 0.6%.

Diversified Australian miner Astra Mining announced on Wednesday plans to list on the Frankfurt Stock Exchange before the end of August after two days earlier inking a deal to enter the Nigerian market and further expand its global presence. Deal-hungry Astra Mining’s global portfolio includes gold and tin interests in south east Asia and southern India, coal mines in Australia, iron ore in India, manganese in Africa and the commercialisation of a new high-strength steel technology from a base in Hungary.

More than 400 workers at Melbourne-based BHP Billiton coking coalmines began strikes on Tuesday for the first time in a decade, disrupting production from the world’s largest exporter and adding to the woes of an industry already hard hit by summer floods. Analysts believe the industrial action, added to the 15% cut in annual production caused by monsoon rains and a cyclone, will support rampant prices for steel-making coal which hit an all-time high in April of $330 per tonne.

As a coal industry study points to up to 14,000 jobs at risk, Prime Minister Julia Gillard says a carbon price will […]

New Delhi, June 14 (PTI) Coal Minister Sriprakash Jaiswal has invited Czech Republic firms to invest in the coal sector in India.

According to a detailed report in the U.K.'s Sunday times newspaper, Global mega commodities group, Glencore, which recently listed in the London stock Exchange's largest ever IPO, is considering a what appears to be a £12 billion (US$20 billion) friendly takeover of European-based diversified mining and metals company, ENRC (Eurasian Natural Resources Corporation). If such a move takes place this would convert Glencore from the world's largest commodities trading group into one of the globe's biggest integrated mining and metals companies - even without taking into account its 35% stake in Xstrata.

Last month, Union Pacific Railroad loaded 876 coal trains in the Southern Powder River Basin (SPRB) compared with 896 trains in May 2010. […]