BHP plans spinoff to focus on ‘four pillars’
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.
Coal
Low coal prices cut into Teck’s profits
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.
Editorial: Cliffs and Casablanca – the start of a beautiful friendship?
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…
Cliffs reports disappointing Q2 ahead of proxy vote
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
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…
TSX takes a break, June 30-July 4
Trading on the Toronto Stock Exchange was on the downbeat during the Canada Day shortened week, with the S&P/TSX Composite Index losing nearly 69 points to finish at 15,214.96. The spot price for gold retreated US$7.91 per oz. to…
Cliffs may idle Pinnacle coal mine
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.
US gov’t targets coal-fired power plants to cut CO2 emissions
VANCOUVER — In a move billed by proponents as ambitious step to address climate change and by opponents as a grand scheme destined to fail before it starts, the U.S. government has proposed a rule to cut carbon dioxide (CO2) emissions…
Cliffs hit by falling prices, cold weather
A harsh winter and low iron-ore and coal prices ensured that Cliffs Natural Resources (NYSE: CLF) would disappoint on its first-quarter earnings.
Editorial: Turkey in mourning
Outside of the all-too regular horrors of China’s underground mines, the coal mine explosion on May 13 at Soma, 250 km south of Istanbul in western Turkey, is the worst mine disaster in recent memory.
Weak met coal prices forces Walter to shutter BC mines
VANCOUVER — In 2011 the metallurgical coal market was hot. Chinese demand seemed insatiable and floods had disrupted Australian supplies, pushing prices as high as US$300 a tonne.
Commentary: Coal down but not out
The following is an edited excerpt of a speech about the global outlook for coal by Dean Dalla Valle, president of BHP Billiton Coal, at the CEDA Energy and Resources series in Brisbane, Australia, where BHP has consolidated its metallurgical…