Keaton Energy sees higher earnings

JSE-listed coal miner Keaton Energy expects its headline earnings a share for the year ended March 31, to rise to between 23c and 27c. This compares with 10.3c a share reported in the previous financial year.

Firestone makes good progress with financial restructuring

South African coal miner Firestone Energy said it has made significant progress in the transaction involving its financial restructuring. The ASX- and JSE-listed company announced a major funding agreement with a consortium of international...

CIL earmarks $1.46bn in capex to increase production

The world’s largest coal miner Coal India Limited (CIL) would be doubling its capital expenditure to $1.46-billion during 2012/13 to achieve a target production of 464-million tons during the year. In 2011/12, CIL recorded coal production of...

Mongolia passes watered-down foreign investment law

Mongolia's Parliament passed a controversial law aimed at capping foreign ownership in "strategic" industries like mining on Thursday, but investors expressed relief that the legislation was weaker than first anticipated. The bill has been...

SouthGobi posts profit, says Mongolia mines open

SouthGobi Resources, a coal miner with operations in Mongolia, reported a first-quarter profit on Monday, as its sales nearly doubled and its average selling price rose. The Toronto-listed miner said its coal mines in Mongolia were still...

CIL slows down underground development/expansions

The world’s largest coal miner Coal India Limited (CIL) has decided to slow down development or expansion of its underground coal mines in the country, in view of steadily declining trends in production. CIL operates 467 mines; of which 273...

SNR opens new coal export route through East London

South African coal miner Strategic Natural Resources (SNR) will open a new coal export route using the East London port in the Eastern Cape when its joint venture marketing firm begins shipments in December. SNR has formed the joint venture...

First Point serves arbitration notice on Cliffs

TSX-V-listed First Point Minerals over the weekend announced it had served a notice of arbitration on Cliffs Natural Resources Exploration Canada over Cliffs' alleged refusal to provide information about the Decar nickel/iron alloy project in...

Firestone secures financial backing for Waterberg project

South African coal miner Firestone Energy has announced a major funding agreement with a consortium of international investors, while its majority shareholder disposed of its interest in the company. ASX- and JSE-listed Firestone on Monday...

Whitehaven bids for Coalworks

ASX-listed coal miner Whitehaven Coal has launched an all-cash takeover offer for fellow listed Coalworks, in which it currently holds a 17.3% interest. Whitehaven MD Tony Haggarty said on Monday the A$1-a-share offer for the coking and thermal...

Mongolia mine law change unlikely to be retroactive

Changes to Mongolia's investment rules that will allow it to review takeover bids by foreign investors are part of efforts to avoid over-dependence on commodity-hungry China and are not aimed at reviewing existing deals, a government Minister...

Peabody sees 10% growth in seaborne coal demand this year

Peabody Energy, the largest US coal miner, on Thursday said it expected global demand for coal to increase significantly over the next decade, despite cooling US markets. The NYSE-listed company said coal-fuelled heat and power generation was on...