India should rein in its lofty coal output target as power demand is growing at a slower pace than expected, a government policy think-tank said, even as state monopoly Coal India Ltd (CIL) struggles to sell already-mined coal.
The Western Australian Environmental Protection Authority’s (EPA’s) recommendation against approval of two mid-west banded iron formation (BIF) mines is a disappointing decision, Western Australia Chamber of Minerals and Energy (CME) natural resources manager Kane Moyle said on Wednesday.
Gemfields on Wednesday advised its independent shareholders to “seriously consider” whether to accept Pallinghurst’s all-share offer. Pallinghurst on Tuesday said it had received acceptances for the offer exceeding 75%.
Stripping out Wescoal’s once-off nonrecurring costs paints a pretty picture of the performance of this black-controlled coal-mining and coal-marketing junior, which has declared a dividend payout of R22-million compared with R10-million last year The once-off costs of R90-million arose from the transaction that assures 51% black control for the company, and also from its acquisition of coal-min
The Navajo generating station, the biggest coal-fired power plant in the US West, will live to see another two years. On Monday, Navajo Nation leaders approved a lease with the plant’s utility owners that will keep the ailing, 2 250 MW complex operating through December 2019. The owners signaled on Tuesday that they’ll sign the deal this week, the Navajo Nation Council said by email.
Despite the modest recovery in global commodity prices, miners will remain focused on capital and supply discipline in the year ahead, through debt reduction and efficiency enhancements, research firm BMI said on Tuesday.
Aim-listed gemstone producer Richland Resources’ Capricorn Sapphire subsidiary has entered into an exclusivity and supply agreement with jewellery manufacturer Royal Touch, which will buy all its heated green sapphires on an exclusive basis for the majority of the size fractions.
JSE-listed Pallinghurst has now garnered acceptances for 75.18% of shares in takeover target, Aim-listed miner Gemfields. Pallinghurst CEO Arne Frandsen noted that the company was “delighted” to have received more than 75% support from Gemfields’ shareholders, including the majority of Gemfields’ minority shareholders.
An independent assessment has estimated that the Dartbrook project, in New South Wales, contained some 2.5-billion tonnes of coal resource. ASX-listed Australian Pacific Coal on Tuesday said that some 588-million tonnes were classified as measured with a further 850-million tonnes classified as indicated.
Glencore’s years-long pursuit for a bigger Australian coal business was delivered another setback on Monday after Rio Tinto Group passed on the company’s offer for a second time.