Teck posts strong 2Q15 results in coal business
Canadian mining company, Teck Resources, made CAN$215 million before depreciation and amortisation in 2Q15
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Canadian mining company, Teck Resources, made CAN$215 million before depreciation and amortisation in 2Q15
Vale produced 2 million t of coal in 2Q15 with 1.27 million t from the company’s Mozambique operations.
Diversified miner, Anglo American, announced underlying EBITDA of US$589 million from its coal business unit as strong costs cutting offset lower prices.
Weak commodities demand and unfavourable exchange rates saw Caterpillar Resource Industries Group profit evaporate in 2Q15 from US$114 million on the previous year.
Anglo American has appointed Tony O’Neill to the board as an executive director with responsibility for mining and technology, business performance, projects and safety, health and environment.
In a recent report on the global mining equipment market, Grand View Research forecast the market to grow to US$95.14 billion by 2022 with recovery coming post-2017.
ROM coal production at Atlantic Coal’s Stockton anthracite mine jumped 12% on the previous quarter in 2Q15.
Vietnamese coal mining company, Vinacomin, sold 18 million t of coal in the first six months of the year, 2.8% lower than in 2014.
An Arizona mine upgrades its missing tooth detection systems to Motion Metrics’ ShovelMetrics™, which has led to increased detection, higher accuracy and greater reliability.
China’s largest coal miner saw its coal sales drop by almost a quarter in the first half of this year as the country’s coal demand dropped.
Vietnamese coal mining company, Deo Nai Coal Co., produced 1.2 million t of coal in the first six months of 2015.
Number two US coal miners, Arch Coal, is to implement a one-for-ten reverse stock split in a bid to boost its share price and remain listed on the New York Stock Exchange.