Coal

Ousted Cliffs CEO to receive US$11M payment  

Source: Print Archives | 2014-08-27
Struggling iron ore and coal miner Cliffs Natural Resources (NYSE: CLF) will have to make close to $28 million in severance payments to executives and other key staff that have been turfed following a proxy battle.

Cliffs to buy back shares

Source: Daily News | 2014-08-26
A month after activist hedge fund Casablanca Capital succeeded in gaining control of the board at Cliffs Natural Resources (NYSE: CLF), the troubled iron ore and metallurgical coal miner says it plans to buy back US$200 million worth of its own...

BHP plans spinoff to focus on 'four pillars' 

Source: Print Archives | 2014-08-20
With a spinoff of its aluminum, manganese, nickel, silver and some of its non-core coal assets, BHP Billiton (LSE: BLT; ASX: BHP; NYSE: BHP) is  driving to simplify its portfolio.

US stocks climb, Aug. 11-15  

Source: Print Archives | 2014-08-20
It was a good week for U.S. equities. The Dow Jones Industrial Average advanced 109 points to 16,662.91, while the broader S&P 500 Index jumped 23 points to 1,955.06. The tech-heavy Nasdaq Composite Index added 94 points to 4,464.93.

SouthGobi's direction murky after Hong Kong deal 

Source: Print Archives | 2014-08-20
VANCOUVER — It’s been a nightmare two years for Mongolia-focused producer SouthGobi Resources (TSX: SGQ; US-OTC: SGQRF), as it weathers socio-political challenges and low coking and thermal coal prices.

Editorial: Cliffs and Casablanca - the start of a beautiful friendship? 

Source: Print Archives | 2014-07-30
It’s the biggest shareholder revolt of the current downturn in mining, but as we go to press it looks like Casablanca Capital has succeeded fulsomely in its long-shot bid to swamp the 11-member board of Cliffs Natural Resources with six...

Low coal prices cut into Teck's profits  

Source: Print Archives | 2014-07-30
VANCOUVER — Teck Resources’ (TSX: TCK.B; NYSE: TCK) second quarter profit fell to $72 million, down more than 70% compared to the same quarter last year because of low metallurgical coal prices.

Cliffs reports disappointing Q2 ahead of proxy vote

Source: Daily News | 2014-07-25
Whether or not a dissident shareholder succeeds in replacing Cliffs' (NYSE: CLF) CEO at its annual general meeting next week, big changes are likely in store for the iron ore and metallurgical coal miner.

Corsa Coal to acquire PBS Coals  

Source: Print Archives | 2014-07-23
Severstal Resources, one of Russia’s largest producers of iron ore and coking coal and a division of Severstal (LSE: SVST), plunked down US$877 million in 2008 to buy PBS Coals, a privately held company in southwestern Pennsylvania with...

Cliffs may idle Pinnacle coal mine 

Source: Print Archives | 2014-07-09
Cliffs Natural Resources (NYSE: CLF) is warning that it may temporarily idle its Pinnacle coal mine in Pineville, W.Va., if market conditions do not improve.

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