Coal

Anglo American Seeks Coking Coal Assets in Mongolia to Double Production

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By Elisabeth Behrmann

Anglo American Plc, the third- largest producer of steelmaking coal, is seeking an acquisition that may more than double existing output to meet rising Chinese and Indian demand.

Anglo is looking for assets with potential annual output of as much as 20 million metric tons in Russia, Mongolia, Indonesia and Mozambique, said Seamus French, Read more

National Aluminium to Acquire Coal Mine in Indonesia to Supply Power Plant

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By Yoga Rusmana

National Aluminium Co., India’s second-largest producer of the metal, is seeking to acquire a coal mine in Indonesia to secure fuel supplies for its planned power plant in East Kalimantan province.

Nalco, as the company is known, seeks a coal mine with 500 million metric tons of resources that can produce 10 million tons annually starting in 2014, the company said in a statement published in the Jakarta Post today. Potential sellers have 30 days to submit offers, according to the statement. Read more

Anglo Challenges South Africa About Award Of Coal Mining Rights to Melody

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By Renee Bonorchis

Anglo American Plc, the biggest private employer in South Africa, said it is challenging South Africa’s Department of Mineral Resources in court over the award of some coal mine rights.

While confirming the legal case, Pranill Ramchander, a spokesman for the company in Johannesburg, declined to comment further because it is a legal matter. Read more

Moving coal outdoes ports for Asciano: Asciano (AIO) $1.67

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By Tim Boreham

ASCIANO is synonymous with the ports activities of the acquired Patrick business.

The Toll Holdings spinoff is doing better from carting coal in Queensland than contributing to the national trade deficit. Read more

Chalco Plans Coal, Iron Ore, Rare Earth Expansion as Aluminum Loses Money

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By Helen Yuan and Xiao Yu.

Aluminum Corp. of China Ltd., the nation’s biggest maker of the metal, plans to expand into coal, iron ore, copper and rare earth as rising costs for its smelters led to a second-quarter loss. Shares fell.

The company, which last month agreed to pay $1.35 billion for part of the Simandou iron ore project in Guinea, wants to build as many as three coal production bases in three years, Chairman Xiong Weiping told reporters in Shanghai today. Read more

Newcastle port capacity to jump 25pc, says NCIG

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By David Fickling

CAPACITY at Newcastle port, the world’s largest coal-export port, will increase by 25 per cent to 180 million tons a year by 2013.

The forecast on capacity was unveiled by the group leading the upgrade of terminal facilities at the Australian port. Read more

Brazilian giant Vale looking to boost its coal output

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By Sarah-Jane Tasker

BRAZILIAN mining giant Vale is not content with being the world’s largest iron ore miner.

The miner is banking on ambitious growth plans to see it emerge as a top-three player in the coal market. Read more

Nippon Steel Acquires 10% of Foxleigh Metallurgical Coal Mine From Itochu

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By Mausumi Suga and Ichir0 Suzuki

Nippon Steel Corp., Japan’s largest steelmaker, bought a 10 percent stake in the Foxleigh coal mine in Australia, part of its strategy to increase supplies of raw materials as prices jump.

Nippon Steel bought the stake from Itochu Corp., the Tokyo-based company said in a statement on its website today, without giving an investment value. The mine is 70 percent owned by Anglo American Plc and 20 percent by South Korea’s Posco. Read more

Strong prices lift Western Coal profit

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Vancouver-based Western Coal Corp. said its first-quarter profit grew six fold to $20.2-million, or 8¢ a share, boosted by stronger contract prices. But the company was cautious in its forward-looking statements, saying it expects metallurgical coal demand to decline during the third quarter because of a slowing global recovery and easing steel production. Read more

Noble discovers that juggling hot coal is a tough ask

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By Bryan Frith

NOBLE Group probably now regrets making a bid for Gloucester.

It appears to be finding that stitching together what is effectively an IPO of Gloucester Coal at the same time that it is seeking to privatise the coalminer is no easy task. Read more

Centennial Coal’s output up 7pc

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By David Fickling

CENTENNIAL Coal’s share of full year production in its NSW mines rose 7 per cent from a year earlier to 14.2 million tonnes.

Centennial’s run-of-mine, or unprocessed, figure for the June quarter totalled 3.6 million tonnes, Centennial said in a quarterly production report. Read more

Indian giant moving on Australian ports, coalfields

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By Andrew Fraser

AN Indian company is planning massive investments in Australia’s coal industry.

The move mirrors the vertical integration pioneered by Japanese interests in the 1980s. Read more

Copper Climbs in London on Longest Streak of Inventory Declines in a Year

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By Anna Stabium

Copper rose for a second day in London on the longest streak of inventory declines in more than a year and on gains by Chinese equities that fueled optimism about the demand outlook.

Stockpiles of copper tracked by the London Metal Exchange shrank for a 23rd day today. Chinese shares rallied for a second day on prospects that the government may relax tightening measures as the economy slows. Copper fell for three months in a row through June on concern about efforts to curb growth in China, the world’s biggest user of the metal. Read more

Coal Shipments from Newcastle Increase as Fewer Vessels Line Up to Load

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By Ben Sharples

Coal shipments from Australia’s Newcastle, the world’s biggest export port for the power station fuel, rose 16 percent last week while the number of vessels waiting to load shortened.

The volume exported in the week ended 7 a.m. local time yesterday climbed to 2.16 million metric tons from 1.86 million tons in the preceding period, Newcastle Port Corp. said on its website today. Rio Tinto Group, Xstrata Plc and BHP Billiton Ltd. are among mining companies that ship the fuel from the harbor. Read more

WDS shares jump on BHP Dendrobium mine contract

SHARES in WDS spiked after the service provider said it had won a contract for BHP Billiton Illawarra Coal’s Dendrobium mine in NSW.

WDS shares jumped 7 cents, or 17.95 per cent, to 46c by 1524 AEST.

The two-year contract was for longwall block management and outbye services, WDS said today. Read more