Delays for Dozens of Coal India Projects

An official for India’s state-owned producer Coal India Ltd. (CIL) revealed that 66 of its 123 most costly projects are facing some kind of delay as the country eyes a target of 20 billion metric tons (mt) by 2020. According to media outlets in India, officials have marked 57 projects as active. Of the 66 delayed, 34 are behind schedule due to delays in forestry clearances and another 17 are running behind because of land acquisition and related problems. Another seven have been hung up by a delay or discontinuance of work or non-participation by a contractor. Legal issues have delayed another five, and three have a lack of railway infrastructure.

Read more ...

Peabody Energy’s DIP Business Plan Approved

As it continues to move ahead toward emerging from Chapter 11 bankruptcy, Peabody Energy said August 10 that the business plan that will set the basis for its plan of reorganization has been approved by its debtor-in-possession (DIP) lenders. In its plan, Peabody has projected sales volumes of 168 million tons this year. It will rise to between 194 and 197 million tons annually between 2018 and 2021. Revenues will hold stable at $4.4–$4.6 billion.

Read more ...

NRG Cancels Westmoreland Supply Deal

Westmoreland Coal confirmed it will be converting its Jewett lignite operation in Texas to a reclamation phase after utility NRG Texas Power opted to cancel its supply agreement with the mine two years early. Multiyear reclamation at the 35,000-acre surface operation southeast of Dallas will commence once the deal terminates on December 31. NRG officials told Bloomberg they will be moving to a cleaner burning coal from the Powder River Basin (PRB) in Wyoming.

Read more ...

CPE Back in the Black

Despite a year-on-year drop in coal shipments, Cloud Peak Energy (CPE), which operates exclusively in Wyoming’s Powder River Basin, reported a respectable $35.3 million net income for the quarter. For the period ended June 30, the company reported total revenue of $174.2 million with 11.9 million tons sold. That is compared to $244.1 million in revenue and 16 million tons sold for the comparable 2015 quarter.

Read more ...

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.