SINGAPORE/SYDNEY Australian thermal coal prices for spot cargoes above $100 a tonne, lifted by reports of strikes and strong Chinese demand, are providing a boost in earnings and share prices for miners like Glencore and Whitehaven Coal.
SYDNEY/TOKYO Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.
MELBOURNE, April 18 South32 Ltd on
Tuesday killed a $200 million deal to buy Peabody Energy's
Metropolitan coal mine in Australia after running into
competition concerns about supply of coal to local steel makers.
LONDON/SYDNEY Activist hedge fund Elliott Advisors on Tuesday urged BHP Billiton to reconsider its plan to restructure the company, saying it should be discussed with other investors.
SYDNEY Chinese iron ore futures were firmer on Tuesday, but remained under pressure from concerns demand is slowing in the world's biggest market for industrial materials.
SYDNEY/LONDON The world's largest miner BHP Billiton is sitting on an $11 billion cash pile and what CEO Andrew Mackenzie does with the money will be a critical test of his ability to invest during the industry's worst downturn in decades.
TORONTO/VANCOUVER/SYDNEY Many of the world's junior miners are laying down their picks and shovels to start new ventures ranging from egg exporting to medical marijuana farming, as they as try to survive a crash in metals prices by shifting away from exploration. | Video
TORONTO/VANCOUVER/SYDNEY XX Many of the world's junior miners are laying down their picks and shovels to start new ventures ranging from egg exporting to medical marijuana farming, as they as try to survive a crash in metals prices by shifting away from exploration. | Video
LONDON Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending its ill-fated venture in Mozambique's coal sector.