Peabody announces billion dollar quarterly loss
Peabody Energy has announced a quarterly loss of US$1.01 billion on writedowns of US$900.8 billion on its Australian metallurgical coal operations and US assets for sale.
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Peabody Energy has announced a quarterly loss of US$1.01 billion on writedowns of US$900.8 billion on its Australian metallurgical coal operations and US assets for sale.
A joint venture between Aspire Mining and Noble Group: the Ekhgoviin Chuluu Joint Venture has commenced 2015 exploration programme at the Nuurstei metallurgical coal project.
A 153% y/y increase in solar PV electricity supply has had a significant impact on the UK’s power industry with coal’s share of the energy mix dropping to just 23%.
Fitch Ratings has downgraded Peabody Energy, indicating a default at the world’s largest private-sector coal miner is now a real possibility.
Cloud Peak Energy is in the process of moving a dragline from its Cordero Rojo mine to its Antelope mine.
CoAL reports updates on the Makhado project, the Mooiplaats colliery, the Vele colliery and the Greater Soutpansberg project. The company also reports on financial and corporate features.
US rail operator, Norfolk Southern, has suffered a 33% drop in its coal business in 2Q15.
US coal mining company has postponed its planned reverse stock split.
Allison Transmission Holdings reports net sales for 2Q15 of US$511 million. This is a 5% decrease from the same period in 2014 and is attributed to lower demand in the global Off-Highway and Defense end markets.
The Indonesian government will postpone its plan to raise royalties for the country’s coal mines due to the difficult times companies are facing with low global coal prices.
Vinacomin subsidiaries have swung back to profit in 2Q15, according to reports from the Vietnamese state-owned coal mining company.
According to the latest report from the US Energy Information Agency, coal production in the US rose sharply for the week ending 18 July in comparison with the previous week. However production continues to fall short of last year.