Dividend cut and losses hurt Cliffs
Investors were beating up Cliffs Natural Resources (CLF-N) after it cut its dividend and reported a quarterly loss.
Coal
US stocks post first weekly loss in 2013
U.S. equities ended the Feb. 4–8 trading week down with the Dow Jones Industrial Average slipping 0.1% or 16.82 points to 13,992.97, putting an end to five weeks of gains.
Rio Tinto pays a steep price for Alcan blunder
VANCOUVER — London-based mining giant Rio Tinto (RIO-N, RIO-L, RIO-A) continues to be haunted by the ghosts of past acquisitions, with the largest culprit being its US$38-billion takeover of Montreal-based aluminum leader Alcan in 2007.
Cline keeps its head above water
Six months after Toronto-based Cline Mining (CMK-T) suspended operations at its wholly owned New Elk metallurgical coal mine outside of Trinidad, Colo., the company is still searching for answers.
Rising steel production in India to bolster coking coal prices
Talk of coal usually focuses on the thermal variety — the lower-carbon black rock burned in generators to produce electricity — to the neglect of the higher-quality variety used in steelmaking. The focus makes sense: the world…
Consol Energy sells coal assets in Canada
Consol Energy (CNX-N) sold two non-producing coal assets in Western Canada at the end of 2012 for US$127 million, bringing its total asset sales in 2012 to more than US$350 million, the company reported in the new year.
Cline strives to to stay above water
VANCOUVER — Six months after Toronto-based Cline Mining (CMK-T) announced a suspension of operations at its wholly-owned New Elk metallurgical (met) coal mine outside of Trinidad, Colorado, the company is still searching for answers.
Rising Indian steel production to support coking coal prices
VANCOUVER – Talk of coal usually focuses on the thermal variety – the lower-carbon black rock burned in generators to produce electricity – to the neglect of the higher-quality variety used in steelmaking. The focus makes…
Coal set to challenge oil for global energy supremacy by 2017
It has not been a good year for coal. Australian coal loaded at the port of Newcastle, a leading benchmark for global thermal prices, started the year at US$125 per tonne. Today it is worth just US$90 per tonne, a decline of almost 30%.
HD Mining bulk samples controversy in BC
HD Mining wants to develop an underground coal mine in northern B.C. The resource on its property is as good as it gets in the coal world — high-quality metallurgical coal, the kind used to make steel — and there’s enough of…
Calling All Canadian Underground Coal Miners
Vancouver – HD Mining wants to develop an underground coal mine in northern British Columbia. The resource on its property is as good as it gets in the coal world – high-quality metallurgical coal, the kind used to make steel – and…
More headaches for Anglo at Minas-Rio
Skyrocketing costs are eating into the pocketbooks of miners across the industry and Anglo American (AAL-L, AAUK-Q) is no exception.