Westside Corp. acquires stake in coal seam gas field
Westside Corp. has announced a joint venture with Mitsui & Co. to develop the Dawson Seamgas fields.
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Westside Corp. has announced a joint venture with Mitsui & Co. to develop the Dawson Seamgas fields.
Essar Group, through its subsidiary Essar Minerals, Delaware, has announced an agreement to acquire US coal producer Trinity Coal Partners LLC from energy and commodities-focused fund, Denham Capital, for US$600 million.
The Indian minister of coal, Sriprakash Jaiswal, has called for the adoption of clean coal technologies and the increase in coal production levels in order to decrease greenhouse gas emissions and meet future energy demand.
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One of the largest mining groups in the world, Anglo American, has announced its results for 2009. Operating profits stood at US$ 5 billion, dropping 50% on 2008. Coal operations also suffered big drops in profit, with met coal down 59% and thermal coal down 33%.
Peabody Energy has shipped the first coal to the new Newcastle Coal Infrastructure Group export terminal in Newcastle, Australia. The NCIG terminal is an important part of the miners plans to nearly double coal exports from Australia by 2014.
Rio Tinto and Vale have announced their annual results for 2009. Rio Tinto experienced mixed results with revenues from Australia dropping, while US revenues increase. Vale’s coal business remains relatively small, but will continue to develop as production ramps up in Australia and Colombia and starts in Moatize.
BHP Billiton, Xstrata and Arch Coal Inc. release their full year results for 2009 and look ahead to a better 2010 driven by demand from Asia.
Despite environmental concerns, India will increase its coal burn as power and coal shortages loom. However, the country must still face these environmental and market challenges.
Oracle Coalfields plc has announced that it has entered into two Memorandums of Understanding (MOUs) to supply its lignite to two local customers: Karachi Electric Supply Co. (KESC) and Lucky Cement Ltd.
Peabody Energy has reported better than expected results for 2009. EBITDA was US$ 1.29 billion, while revenue totaled US$ 6.01 billion on sales of 243 million t. Asia is driving demand and will continue to do so in 2010. In the US, a recovering economy is expected to increase the raise consumption of coal by 60 – 80 million t.
Fernando Luiz Zancan, Brazilian Coal Association, Brazil, provides an overview of the country's coal industry and examines its future prospects.