Anglo American Wins Award for HIV/AIDS Program

Anglo American Wins Award for HIV/AIDS Program

Anglo Coal South Africa, a subsidiary of Anglo American, has been recognized by the Global Business Coalition (GBC) on HIV/AIDS, Tuberculosis and Malaria for its pioneering workplace program focused on tackling HIV and AIDS in South Africa. Anglo American is South Africa’s leading private sector employer, with over 100,000 people employed at its operations.

Read more ...

Alpha Makes All Stock Offer for Foundation Coal

Alpha Makes All Stock Offer for Foundation Coal

Alpha Natural Resources and Foundation Coal Holdings announced that they have signed a definitive agreement under which the two companies will merge in an all-stock transaction. The combined company will be the third-largest coal producer in the U.S., with 2008 pro forma revenues of $4.2 billion. Alpha and Foundation together operate 59 coal mines and 14 prep plants and in combination will have one of the most expansive geographic footprints in the industry with reserves of more than 2.3 billion tons of coal. According to a press statement issued by Alpha, the combined company’s scale of operations, diverse revenue stream, free cash flow generation capability, and management depth will provide a platform to compete successfully in today’s market and capitalize on projected future growth in coal demand.

Read more ...

U.K. Mining Invests, Suppliers Profit

U.K. Mining Invests, Suppliers Profit

 

In the midst of a major economic crisis the UK has been marking the 25th anniversary of the labor dispute that played a significant part in the decline of the coal mining industry. Somewhat ironically, while the financial sector situation has been worsening equipment suppliers have been reporting a number of considerable purchases by British coal mining companies. Some involve Scottish opencast coal sites (OCCS), others underground operations— including the first English deep coal mine reopened for many a year—by PowerFuels [CHK] at Hatfield Colliery. Beneficiaries include Liebherr, Terex and Sandvik.

Read more ...

Demand for Met Coal Slows, Teck Slashes Jobs

Demand for Met Coal Slows, Teck Slashes Jobs

After acquiring all of the Fording assets last fall, which primarily consisted of its 60% interest in Teck Coal (formerly Elk Valley Coal Partnership) for $11.8 billion, Teck’s share of Teck Coal’s operating soared to $486 million compared with $30 million in 2007, despite the acquisition inventory adjustment. Coal sales for the fourth quarter of 4.7 million mt, however, were 22% lower than a year ago as customers significantly reduced their coal deliveries in late 2008 in response to lower steel production.

Read more ...

Resource Center Whitepapers, Videos, Case Studies

Let's stay in touch!

All of the latest mining news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.