Coals malaise reflected in US Coal mines hitting decade low
The number of new and reactivated coal mines that began production in 2013 fell to the lowest level in at least the past 10 years. The addition of 103 mines in 2013 came as 271 mines were idled or closed, resulting in a 14% decline in the total number of producing coal mines from 2012 to 2013. The 2013 total was 397 fewer coal mines than in 2008, when coal production was at its highest. Although preliminary 2014 data on coal production from the Mine Safety and Health Administration indicate a slight increase both in production and in new and reactivated mines for 2014, these levels will still be below previous levels.
Renewables overtake Coal in the UK energy mix for the first time
Thanks to an increase in solar panels and wind turbines, as well as a particularly sunny and windy quarter, renewable energy has supplied a record 25 percent of the UK’s energy mix in Q2 2015, leapfrogging coal for the first time to come into second place behind gas fired electricity. It’s nearly a 10 percent increase on the same period last year.
As Coal Prices Slump, New Hope Mulls New Ventures
Tumbling commodity prices are prompting many global miners to spread their bets. However, few companies are going as far as New Hope Corp.—one of Australia’s largest-listed coal miners—in considering moves into cattle breeding and property development.
The Enormous Social Cost of Cheap Coal
On Wednesday, a global research team reported in the top-tier scientific journal Nature that air pollution prematurely kills about 3.3 million people a year around the world. In the U.S., the annual toll approaches 55,000 deaths—with power plant emissions the leading contributor. And by 2050, in the absence of any major changes, those mortality figures are expected to double.
BHP Billiton Sees Rocky Outlook for Coal
The head of BHP Billiton Ltd.’s coal business painted a bleak picture for the coal-mining sector, saying depressed prices will likely continue to plague the industry for some time to come.
Assess Coal needs of end users before auctions
An inter-ministerial committee (IMC) constituted for the proposed auction of coal linkages has told the coal ministry that it is necessary to ascertain the quantum of coal consumed by various end-use sectors before bidding out the fuel to them.
US Coal industry’s cost cuts not enough to offset weak prices
The U.S coal industry has had a rough time in recent years. Between late 2010 and the end of 2014, the top ten publicly-traded coal companies saw their combined share price value drop by more than half, as hundreds of plants closed and thousands of employees were laid off.
Coal scam: Probe against CBI ex-chief to start as SC okays panel
The Supreme Court on Monday gave shape to a high-level team to probe whether former CBI director Ranjit Sinha's alleged meetings with certain coal block allocation scam accused at his official residence last year led to dilution of charge-sheets against them.
Big Coal is down but far from out
If you think the war on coal hasn’t had any effect on the industry you haven’t been keeping up on the news, but the net result probably has a lot more to do with profits than punditry. Nearly four out of every ten mines that were being worked ten years ago are now idle or simply closed. Total production is down, but not nearly by the same proportions. (Yields for all American mines for the first half of this year are down 8% compared to the same period in 2014.) So does this mean that the anti-carbon green energy forces are winning? As this study from a decidedly left leaning source concludes… it’s complicated. (Slate).
China August Coal output down 2.6% at 309 million tonnes
China produced 309 million tonnes of coal in August, down 2.6 per cent from last year, with demand weaker than expected and producers scaling back operations in order to minimise losses, the statistics agency said on Sunday.