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Alcoa sees global aluminum market balancing on China's curbs

By: Bloomberg     19th October 2017 Alcoa Corp sees Chinese cuts in aluminum production returning the global market to “relative balance” as the Asian nation’s supply-side reforms begin to bite. The largest US aluminum producer reduced its global surplus forecast for the lightweight metal this year as China appears to be holding to... 

Pennsylvania permitting delay prompts Consol to change Bailey mine plan

By: Henry Lazenby     19th September 2017 A delay by the Pennsylvania Department of Environmental Protection (DEP) in evaluating the approval of the Bailey mine permit for the 4L panel has pressed Consol Energy to move the longwall to another panel to resume operations. The company expects the longwall move to last about four weeks and... 

Consol Energy contemplates total coal, gas split

By: Henry Lazenby     11th July 2017 The NYSE-listed stock of Consol Energy on Tuesday rose 6.6%, following the company’s pre-market announcement that it would separate its coal and natural gas business units into two publicly traded companies. Consol filed a registration statement with the US Securities and Exchange Commission to... 

Alcoa swaps New York for the city of steel as Harvey simplifies

By: Bloomberg     20th April 2017 Alcoa is giving up the glamour of New York City and going back to Pittsburgh, as new CEO Roy Harvey steps up efforts to streamline the aluminium maker. Changing headquarters and closing seven locations across the US, Europe and Asia is part of a push to lower costs after the producer of the... 

Consol mulls coal unit sale, spin-out

By: Henry Lazenby     1st February 2017 US fossil fuels producer Consol Energy is considering selling or spinning out its coal business as early as this year, the Pittsburgh-based energy company announced in its fourth-quarter earnings release on Tuesday. The plan is another step in the company’s strategy to separate its coal business... 

Africa must monetise economically unmineable coal

     21st October 2016 New coal mines will have to be developed in South Africa as existing mines exhaust reserves, while State-owned power utility Eskom, petrochemicals giant Sasol and new independent power produces (IPPs) must expand alternative production. This is according to South African mining and minerals... 

Coal companies spend $95m on lobbying before bankruptcies

By: Bloomberg     28th June 2016 Five coal-mining companies spent $95-million to lobby US lawmakers and more than half a billion dollars on salaries for top executives in the decade before they filed for bankruptcy, according to a report by an environmental group. At the same time, the companies – Walter Energy, Patriot Coal,... 

Consol rakes in more than $100m through 2 asset sales

By: Henry Lazenby     7th October 2015 US fossil fuels producer Consol Energy has strengthened its balance sheet by about $101-million after selling two assets in separate transactions and will use the proceeds to reduce debt. NYSE-listed Consol sold its 49% interest in the Western Allegheny Energy (WAE) joint venture to Rosebud... 

Alcoa invests $60m in 3D-printing R&D centre expansion

By: Henry Lazenby     3rd September 2015 Specialty alloys firm Alcoa will invest $60-million to expand a research and development (R&D) centre near Pittsburgh, Pennsylvania, that would accelerate advanced three-dimensional (3D) printing materials and processes. NYSE-listed Alcoa has been transforming its business focus in recent years,... 

Consol Energy reports 32% slide in Q1 earnings as prices fall

By: Henry Lazenby     28th April 2015 NYSE-listed fossil fuels producer Consol Energy has reported a 32% year-over-year drop in first-quarter earnings as improved output was offset by falling prices for its coal and oil and gas products. The Pittsburgh-based company on Tuesday reported net income fir the three months ended March 31... 

Despite low energy prices, Consol Energy expects to grow E&P output 30% in 2015/16

By: Henry Lazenby     30th January 2015 Despite oil prices having tested multiyear lows in recent months, which has seen many producers scrambling to cut costs in an effort to survive, US oil, gas and coal producer Consol Energy expects to continue expanding its exploration and production (E&P) division by 30% this year and again in... 

DRA sharpens focus on international expansion

By: Mariaan Webb     12th December 2014 From a modest start 30 years ago as an electrical control and instrumentation company, DRA has morphed into one of the continent’s largest project management and engineering enterprises with operations in Africa, North America, Europe and the Pacific. It is to these international markets that the... 

Consol Energy creates MLP for thermal coal assets, announces share buy-back

By: Henry Lazenby     11th December 2014 The NYSE-listed stock of US coal and gas producer Consol Energy rose 3% in after-market trading on Wednesday, following the company’s announcement that it had formed a master limited partnership (MLP) for its thermal coal business. The Pittsburgh-based company said the MLP's purpose would be to... 

With iceman on the way, US plants and suppliers get ready

By: Reuters     20th November 2014 US Steel is stockpiling extra iron ore ahead of what could be another record-long freeze-up of the Great Lakes. General Motors has built up inventories of critical parts at its plants and established a supply chain "crisis room" that will swing into action in the event of a major winter storm. 

Consol to create MLP for thermal coal assets

By: Henry Lazenby     28th October 2014 US-based coal and natural gas producer Consol Energy on Tuesday announced plans to create a master limited partnership (MLP) for its thermal coal assets by year-end. The Pittsburgh-based company said in a telephone call with analysts that it hoped to announce an MLP by the end of the year, saying... 

Alcoa stocks rise on ‘hitting stride’ and beating Q3 Wall Street expectations

By: Henry Lazenby     9th October 2014 The NYSE-listed stock of US upstream and downstream aluminium products manufacturer Alcoa on Wednesday rose by more than 2% after market close, spurred by the company’s third-quarter earnings beating Wall Street analyst expectations. The light-weight metals company unofficially kicked off the... 

Alpha Natural’s stock rises after beating Q2 expectations

By: Henry Lazenby     6th August 2014 The third-largest US coal producer Alpha Natural Resources on Wednesday reported better than expected second-quarter earnings, sending its NYSE-listed shares up by more than 8% despite its net loss being significantly wider when compared with the same period last year. US coal miners have been... 

South Africa’s DRA adds $100m to Americas business as it tags Taggart

By: Martin Creamer     31st July 2014 Mining project house DRA said on Thursday that it had agreed to acquire the Forge Group North America companies, formerly known as Taggart Global, for an undisclosed sum. DRA, a private, employee-owned Johannesburg-based project and engineering services company which is celebrating its thirtieth... 

Consol Energy widens Q2 loss as special items hurt bottom line

By: Henry Lazenby     29th July 2014 The NYSE-listed stock of US fossil fuels producer Consol Energy on Tuesday morning lost as much as $0.62 apiece after it reported that its second-quarter loss nearly doubled as a result of once-off charges related to retiring some of its debt early. For the three months ended June 30,... 

Consol Energy lifts gas output 34% as Utica Shale output gathers pace

By: Henry Lazenby     16th July 2014 US fossil fuels producer Consol Energy on Tuesday reported a 34% increase in second-quarter natural gas output, in line with its strategy to leverage increased revenue from the sector, as slumping coal prices persist. The Pittsburgh-based company said it had completed three new wells and placed... 

Alcoa investment to boost aerospace manufacturing capabilities in Virginia

By: Henry Lazenby     17th June 2014 Lightweight metals engineering and manufacturing firm Alcoa on Tuesday said it would invest $25-million at its power and propulsion manufacturing facility in Hampton, Virginia, to scale up its manufacturing capabilities for lightweight high-volume jet engine blades. This investment supports... 

Obama govt’s toughest action yet orders 30% cut in carbon emissions 

By: Henry Lazenby     2nd June 2014 The US Environmental Protection Agency (EPA) on Monday introduced its toughest action yet to cut down on carbon emissions, ordering a 30% reduction from 2005 levels by 2030 in carbon dioxide (CO2) emissions from power plants, not auguring well for struggling thermal coal producers, which had... 

Caterpillar Upgrades Room and Pillar Mining Equipment Manufacturing in Pennsylvania

     8th April 2014 Caterpillar is updating and upgrading room and pillar mining equipment manufacturing facilities in Houston, Penn. The facility, located south of Pittsburgh, currently manufactures continuous miners used in underground coal and soft rock mining, and it is being readied to manufacture the Cat® room... 

Finnish steelmaker launches North American operations

By: Henry Lazenby     19th November 2013 Finnish steelmaker Ruukki on Tuesday opened a US headquarters in Pittsburgh, Pennsylvania, and a new Canadian headquarters in Toronto, as it expands in North America. Kevin Kale, who the company said has 17 years of experience in the steel industry, would head the Ruukki office in Pittsburgh,... 

Consol Energy lifts Q1 production as demand rises

By: Henry Lazenby     12th April 2013 Diversified eastern US fuel producer Consol Energy coal production has surged during the first quarter ended March 31 to supply stronger-than-expected export markets. The Pittsburgh-based company on Friday said its coal division had produced 14.8-million tons during the quarter, including... 

CAT to supply longwall systems to four Consol mines

     5th April 2013 Largest producer of coal from underground mines in North America Consol Energy has placed orders for Caterpillar (CAT) longwall equipment, including more than 1 100 roof supports, worth $300-million. Delivery of the equipment started at the end of 2012 and will be completed in mid-2013. 

Company Announcement: Caterpillar to Supply Longwall Systems to Four CONSOL Mines

     4th March 2013 CONSOL Energy Inc., the largest producer of coal from underground mines in North America, has placed orders for Cat longwall equipment including more than 1,100 roof supports and totaling nearly $300 million US 

Consol Energy lowers 2013 capex, shifts focus to gas

By: Henry Lazenby     14th January 2013 Eastern US-focused diversified fuel producer Consol Energy on Monday said it planned to reduce its 2013 capital expenditure (capex) budget by about 11.5% to between $1.29-billion and $1.5-billion, the bulk of which would be spent on its natural gas division. Following the sale of assets worth a... 

Consol Energy sells nonproducing Canadian coal assets for $127m

By: Henry Lazenby     7th January 2013 Eastern US diversified fuel producer Consol Energy last week announced it had sold nonproducing western Canadian coal assets in the closing days of 2012 for $127-million in two separate transactions. In the first transaction, Consol partnered with private merchant bank Forbes & Manhattan (F&M)... 

Consol idles Fola operations, to retrench 300

By: Natasha Odendaal     29th June 2012 NYSE-listed Consol Energy on Friday idled another of its coal operations, impacting more than 300 employees and reducing group production by another 800 000 t. The Pittsburgh-based coal and natural gas producer said the Fola operations, near Bickmore, West Virginia, would be idled as a weak... 

Consol to defer 300 000 t of coal, extends vacation period

By: Natasha Odendaal     25th June 2012 NYSE-listed Consol Energy has become the latest US producer to defer coal production as domestic coal demand remained weak owing to poor economic conditions, president Nicholas DeIuliis said on Friday. About 300 000 t of coal production was expected to be deferred as the Pittsburgh-based coal... 

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