Industry performance will remain under pressure in 2016, Moody’s says
After a “material compression” of industry earnings in 2015, Moody’s Investors Service forecasts that the earnings contraction will continue this year.
Coal
Editorial: Former Massey CEO Blankenship convicted of conspiracy
Former Massey Energy CEO Don Blankenship has been convicted by a federal jury in West Virginia of conspiracy to violate U.S. mine-safety laws in relation to the 2010 explosion that killed 29 miners at the firm’s Upper Big Branch…
Commentary: Coal’s place in the shifting global energy mix
Given the mining industry’s extended cycle times, companies regularly look for insight relative to long-term commodity demand patterns. One area that may require more concerted focus relates to the shifting global energy mix.
Editorial: Layoffs pile up across the industry
The last couple of months have seen deep rounds of layoffs in the mining industry, as companies worldwide struggle to cope with low commodity prices, a resurgent U.S. dollar and thin financings.
Teck cuts jobs, dividend
Diversified miner Teck Resources (TSX: TCK.B; NYSE: TCK) is slashing jobs and lowering its dividend to protect its liquidity amid the commodity price collapse.
TSX climbs higher, Oct. 19-22
The Toronto stock market ended higher as investors took in prime minister-designate Justin Trudeau’s majority win in the federal election. Canada’s new prime minister promises to invest heavily in infrastructure, among other areas,…
Amerigo secures new resource in old tailings
Amerigo Resources (TSX: ARG; US-OTC: ARREF) hasn’t lost much time since it cut a deal with Codelco in April 2014 to treat a new source of tailings from the miner’s El Teniente mine — the world’s largest underground…
Wood Mackenzie goes long on met coal
Joe Aldina, principal research analyst for metal and energy consultant Wood Mackenzie, says that supply for metallurgical coal should level with demand by 2023, and although he expects met coal prices will rise, global producers “are not…
Optimists see ‘gems’ in besieged coal markets
VANCOUVER — Attending the Coal Association of Canada’s annual gathering here in downtown Vancouver, it’s clear it’s a pretty terrible time to be in the coal business, and that goes for both the metallurgical (met or…
Anglo Pacific has ‘turned the corner,’ CEO says
For Anglo Pacific Group (TSX: APY; LSE: APF), royalty income in the first half surpassed all of the royalty income earned last year. And while the company posted an after-tax loss for the six months ended June 30, it was a much smaller one than…
US stocks fall, Aug.17-21
U.S. equities tumbled as investors took in new data signaling a slowdown in China and a report that showed an unexpected rise in U.S. crude stockpiles, fuelling concerns of a global oil surplus. The S&P 500 Index and the Dow Jones…
Strong headwinds for thermal coal
A year ago, South Africa’s Exxaro Resources (JSE: EXX; US-OTC: EXXAY) agreed to pay US$472 million to acquire 100% of Total’s (NYSE: TOT) South African thermal coal unit Total Coal South Africa Pty., which includes a majority…