LONDON, July 1- Global mining firm Glencore said on Wednesday it would go ahead with a plan to close some operations at its Optimum Coal subsidiary in South Africa due to weak coal prices, a move which will result in the loss of 600 to 700 jobs. South Africa's National Union of Mineworkers had bitterly criticized the company's plan to shut down these assets, accusing...» Read More
The price of coal is rising in the United States thanks to the economic recovery and new environment regulations that are restricting supply, with Mad Money host Jim Cramer, and Steve Leer, chairman and CEO of Arch Coal.
The mining industry has been caught by natural disasters in the Pacific region, an intense mergers and acquisitions environment and emerging countries eyeing to get a hold on commodities resources, Evy Hambro, MD and CIO of the natural resources team at BlackRock told CNBC.
Kevin Ferry, Cronus Futures Management, discusses what happened in overnight trading as well as what he wishes would happen with the Fed. And the House tries to ban the EPA from regulating greenhouse gases, with Rep. Ed Whitfield (R-Ky.) Energy & Commerce Committee.
The volatility switch has flipped in the energy sector, creating opportunities for investors ready to buy at increasingly attractive entry points in what may be a repeat of the 2008 mega-rally.