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Queensland coal developer Bandanna Energy has awarded rail haulage operator Pacific National Coal a 15-year performance based take or pay contract for its proposed Springsure Creek coal mine in Central Queensland.
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Optimum Coal Holdings confirmed the acquisition of TNC Prospecting from Umcebo Mining, a deal valued at R422M (US$54M). The transaction would be settled with Optimum Coal cash resources.
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Petmin, the R1.79bn junior mining company, announced it had signed a renewable, five-year supply agreement for 600Ktpa of anthracite with Grindrod Terminals, a deal that replaces an agreement with Richards Bay Coal Terminal (RBCT).
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Speaking at the 10th annual Coal Markets conference in Singapore yesterday (February 22), Rio Tinto Australia's chief development officer Matt Coulter said a rise in coal production costs globally was inevitable.
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US coal producers Arch Coal and Ambre Energy are set to foray into the Asian thermal coal export market as domestic demand dwindles.
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Multi-national steelmaker and diversified miner Severstal is on the hunt for coking coal operations, according to vice president of business development Semyon Vavilov.
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In an apparent broadside to rival developers in the Galilee Basin, Hancock Coal's managing director Paul Mulder has declared GVK Hancock is the most advanced player in the Galilee Basin.
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Diversified resources company Astra Resources has completed an initial geological investigation and feasibility study of its two Nigerian thermal coal sites which has produced promising results.
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The peak body for the world's steel makers, the World Steel Association, reports world crude steel production dipped 7.8% to 117Mt during January compared with output for the same month last year.
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London Stock Exchange AIM-listed Altona Energy has conditionally agreed to buy a 95% indirect interest in two coal exploration licences in China's Xinjiang Uygur Autonomous Region.
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Just as the company declares "the steel market shows signs of bottoming out", the board of Taiwan's China Steel Corp (CSC) has approved in principle a plan to invest in a PCI/coking coal mine in Australia.
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Leading Chinese coal miner, China Shenhua Energy, produced 26.3Mt of saleable coal in January, a 22.3% year-on-year increase and up 7% month-on-month.
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Asciano's above rail coal haulage subsidiary Pacific National Coal boosted its revenue in the six months to December 31, 2011 by 13.6% year-on-year despite a 9.6% fall in coal rail volume.
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Chinese steel mills are looking to raise the price of exported hot rolled coil and thick plate steel by as much as US$30/t from the February price, according to Shanghai-based SteelHome.
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