U.K. Mining Invests, Suppliers Profit

U.K. Mining Invests, Suppliers Profit

 

In the midst of a major economic crisis the UK has been marking the 25th anniversary of the labor dispute that played a significant part in the decline of the coal mining industry. Somewhat ironically, while the financial sector situation has been worsening equipment suppliers have been reporting a number of considerable purchases by British coal mining companies. Some involve Scottish opencast coal sites (OCCS), others underground operations— including the first English deep coal mine reopened for many a year—by PowerFuels [CHK] at Hatfield Colliery. Beneficiaries include Liebherr, Terex and Sandvik.

Read more ...

Demand for Met Coal Slows, Teck Slashes Jobs

Demand for Met Coal Slows, Teck Slashes Jobs

After acquiring all of the Fording assets last fall, which primarily consisted of its 60% interest in Teck Coal (formerly Elk Valley Coal Partnership) for $11.8 billion, Teck’s share of Teck Coal’s operating soared to $486 million compared with $30 million in 2007, despite the acquisition inventory adjustment. Coal sales for the fourth quarter of 4.7 million mt, however, were 22% lower than a year ago as customers significantly reduced their coal deliveries in late 2008 in response to lower steel production.

Read more ...

Peabody Energy Announces 2009 Production Cutbacks

Peabody Energy Announces 2009 Production Cutbacks

Peabody Energy announced in early January that it is reducing its 2009 targets for Powder River Basin coal and Australian metallurgical coal production, reflecting the effects of the global recession.

Read more ...

DFP Boombox Upper

 
 
 

Resource Center Whitepapers, Videos, Case Studies

Let's stay in touch!

All of the latest mining news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.