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Bloomberg

Bloomberg delivers business and markets news, data, analysis, and video to the world, featuring stories from Businessweek and Bloomberg News.

Biggest US coal miner surges 17% as global energy crisis boots demand

19th October 2021 The global energy crisis that’s fueling demand for coal boosted third-quarter results for Peabody Energy, pushing up shares 17%. Sales exceeded $900-million, the highest in seven quarters, and adjusted earnings before interest, taxes, depreciation and amortisation of $280-million to $290-million... 

Thiel-backed lithium miner is said to prepare Nasdaq listing

19th October 2021 Rock Tech Lithium is preparing a Nasdaq listing to broaden its investor base and help finance a $545-million battery-metals smelter in Germany near sites of key suppliers and customers including Tesla and BASF, according to people familiar with the matter. The US stock market presence would... 

Australia must commit to carbon cuts to keep green energy advantage - Fortescue's Forrest

18th October 2021 Australia risks losing its advantage in the green energy revolution if its leaders don't promptly commit to cutting carbon emissions by 2050, the country's richest man, Fortescue Metals Group founder Andrew Forrest said on Monday. Forrest, who grew Fortescue from a minnow to rival the world's... 

Where a $5bn green incentive runs into politics of coal

18th October 2021 The world’s richest countries are courting South Africa as a model of how to transition to a more climate-friendly future from a dependency on coal. While $5-billion of cheap loans and grants are on offer as a first step, transforming Africa’s most industrialized economy demands more than cash.... 

Manchin's opposition may doom clean-power plan Biden backs

18th October 2021 Senator Joe Manchin has told the White House and congressional leaders that he will not support including a key clean-power provision in the Democrats’ spending package, putting at risk a central element of the legislation designed to fight climate change, according to a person familiar with the... 

Using the world’s first green steel to make a dump truck

18th October 2021 The world’s steelmakers need a makeover. Their industry is one of the dirtiest, and it’s blamed for about 7% of global carbon emissions. The biggest producers essentially rely on the same manufacturing processes they used a century ago, and now they face a reckoning. With the planet’s viability... 

Asia’s coal mining revival doesn’t mean the energy crisis is over

15th October 2021 A crunch on coal production from key hubs in China and India is beginning to ease, but that won’t be enough to halt Asia’s energy crisis. Major industries in the region, including steelmakers to chemical producers, are expected to continue to face power disruptions through the winter, as fuel... 

‘Unleash American shale’ to end energy crisis

15th October 2021 The largest US natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages. US gas drillers could increase supplies by about 20% if not for pipeline and... 

Chile offers incentives to miners to take on more lithium projects

14th October 2021 Chile is offering new contracts to tap the world’s biggest reserves of lithium in a effort to reclaim market share as demand for the battery metal surges. The government is making bidding rules available to local and foreign firms for five quotas of 80,000 metric tons apiece. Winners will get... 

The coal price rally isn’t ending any time soon, Whitehaven says

14th October 2021 Coal prices are likely to remain high after soaring to new records on strengthening power demand and challenges in key supplier nations, according to a major Australian producer. High-quality thermal coal at Newcastle port in Australia, the benchmark in Asia, the world’s largest market for the... 

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