Coal and Consumable Fuels
More
-
*Mozambique coal output small fraction of planned capacity. JOHANNESBURG/ LONDON, Jan 22- Rio Tinto has begun a review of its Mozambique coal mining operations which cost it a $3 billion write-off, reconsidering development plans, partners and its options for getting the coal from pit to port.
-
*Production-sharing deal would be for field in east Ukraine. KIEV, Jan 18- Ukraine is expected to sign a landmark shale gas deal with energy major Royal Dutch Shell next week while a second deal in the west of the country faces local opposition, Prime Minister Mykola Azarov said on Friday.
-
--Clyde Russell is a Reuters market analyst. LAUNCESTON, Australia, Jan 18- The demise of Tom Albanese as Rio Tinto's chief executive probably heralds a new era of conservative management of the world's top mining companies. But Albanese did survive and went on to shell out $4.2 billion in 2011 to buy Mozambique- focused coal miner Riversdale.
-
*Tom Albanese sacked with no pay-off. LONDON, Jan 17- Rio Tinto sacked chief executive Tom Albanese on Thursday and revealed a $14 billion writedown in connection with his two most significant acquisitions, the Alcan aluminium group and Mozambican coal. Doug Ritchie, who led the acquisition of Mozambique- focused miner Riversdale, was also shown the door.
-
With over 1 billion tonnes of reserves in the ground- more than enough to supply the global steel industry for a year with coking coal- the miner plans to spend $1.3 billion to raise output sixfold in the next seven years, Andrei Churin said.
-
LONDON, Jan 15- British exploration firm IGas Energy has received interest from some of the oil industry's biggest names to look for shale gas in the UK, its chief executive said, amid growing demand to develop the country's unconventional resources. Exxon Mobil was linked with IGas in December over a possible partnership.
-
*Deal values Uranium One at $2.8 bln. MOSCOW/ BANGALORE, Jan 14- Russia's state uranium firm has agreed to pay $1.3 billion to take Canada's Uranium One Inc private, as the successor to the Soviet Union's nuclear industry seeks to strengthen its grip on supplies.
-
Mexico's Los Zetas drug cartel has entered Mexico’s Coahuila region and has swiftly brought every aspect of commerce, politics, and business under its control in less than three years. But the expansion was not undertaken to increase its drug trafficking or prostitution operations. It was so the cartel could enter the business of coal mining.
-
LONDON, Jan 8- An Australian former coal miner, Anglo American's newly appointed chief executive is a far cry from the patrician Oppenheimer family who founded one of the world's largest mining groups almost a century ago.
-
*HSBC rises, Basel III extension helps. HONG KONG, Jan 7- Hong Kong shares neared a 19- month high on Monday, as investors continued to chase Chinese property and coal sectors despite signs suggesting that the rally in some large caps has become stretched. Gains in Hong Kong and China came in healthy trading volumes.
-
WASHINGTON, Jan 4- Two influential U.S. senators have asked the Interior Department to examine whether coal companies are dodging hundreds of millions of dollars in royalty payments on lucrative sales to Asia, citing a Reuters investigation into the matter.
-
Democratic Senator Ron Wyden, the incoming chairman of the Energy and Natural Resources Committee, and the panel's leading Republican, Senator Lisa Murkowski, said they were concerned that coal companies may be shorting royalty payments.
-
Democratic Senator Ron Wyden, the incoming chairman of the Energy and Natural Resources Committee, and the panel's leading Republican, Senator Lisa Murkowski, said they were concerned that coal companies may be shorting royalty payments.
-
LAUNCESTON, Australia, Jan 2- Coal producers supplying Asia are likely to have a busy year, but that increase in demand won't necessarily translate into much higher prices. But global supplies of the fuel are plentiful, with Barclays estimating that an additional 82 tonnes, or 10.5 percent, made its way onto world markets in 2012..
-
Dominic Schnider , Head, Commodity Research, UBS Wealth Management says quantitative easing is good for precious metals, while base metals will benefit from stronger global growth in 2013.
-
SHANGHAI, Dec 21- China, the world's top coal importer, said it would scrap a regulation to cap spot thermal coal prices and would no longer intervene in annual coal price negotiations between sellers and utilities starting in 2013..
-
WASHINGTON, Dec 20- Western states that rely on receipts from coal sales to help fund their governments are concerned the mining industry is dodging royalty payments on lucrative U.S. exports to Asia. Montana and Wyoming get half of federal royalties on coal from their states.
-
A high population density in much of the European Union and Britain is partly responsible for planning regulations which include detailed public consultation which in the present form will test the development of a shale gas industry in its infancy.
-
HOUSTON, Dec 17- Two years on, a gusher of U.S. shale oil production is finally starting to seep into California, where refiners in the country's most isolated fuel market are waging an increasingly desperate battle to curb costs.
-
LONDON, Dec 14- Her Majesty Queen Elizabeth II could be in line for a windfall now that her government is prepared to start granting licences to frack for shale gas again.