Coal producers sitting pretty

Old King Coal is proving to be a merry old soul indeed for Canadian miners. The $40,8-million second-quarter net income TSX-listed Western Coal Corp reported this week was almost an eighteenfold rise compared to last year.

Western Coal profit jumps, raises outlook

Vancouver-based Western Coal Corp increased second-quarter net income almost 18-fold, to $40,8-million, compared with $2,2-million a year earlier, and said on Thursday it has increased production guidance for the current financial year. Excluding...

Western Coal sees demand softening in Q3, shares drop

Western Coal Corp reported a six-fold growth in first-quarter profit, but expects weaker demand from steelmakers to hurt metallurgical coal sales in the third quarter, sending its shares down as much as 4 percent. The company said steel prices...

Ex-Lonmin chief Brad Mills now keen on Chile

Brad Mills has been keeping a low profile since his abrupt exit as boss of number-three platinum producer Lonmin, but last month the company he now heads, Mandalay Resources, graduated to the TSX main board. Mandalay, with a market...

Daily podcast – November 25, 2009

Debswana plans to extend the closure of its Damtshaa mine to the end of 2010; and De Beers and the government of Botswana expect to spend as much as $3-billion over the next 15 years to extend the life of the Jwaneng diamond mine.

Western Coal says aware of potential lawsuit

Vancouver-based Western Coal Corp is aware of a potential class action lawsuit against the company, it said on Tuesday. Western has received service of the proposed suit, which was launched in the Ontario Superior Court of Justice on November 20.