SouthGobi Energy Resources and Glencore International AG Sign Marketing Agreement

Alexander Molyneux, President of SouthGobi Energy Resources Ltd., and Gene Wusaty, Chief Operating Officer, announced today that an agreement has been signed with Glencore International AG to provide SouthGobi with coking coal marketing expertise and river barging/vessel loading logistical services for SouthGobi’s Mamahak coal project in East Kalimantan, Indonesia. “We have developed Mamahak... 

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Research and Markets: Comprehensive Company Report of China’s Yanzhou Coal Mining Company

Research and Markets has announced the addition of the “China Company Report — Yanzhou Coal Mining Company Limited” company profile to their offering. Yanzhou Coal Mining Company Limited is a listed company held by Yankuang Group Co., Ltd. in controlling shares, whose shares has been listed in Hong Kong, New York, Shanghai in 1998 respectively. It has been the only Chinese coal enterprise... 

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Rio’s Exploration Scorecard

For major mining companies such as Rio Tinto and BHP Billiton, the future life is a combination of their exploration work and enterprise: to find things on their own, to be approached by other companies in deals , or make acquisitions. Rio growth with Alcan bought last year and is now off fighting an attempt by BHP Billiton to do that to himself. Rio says the bid does not evaluate it properly. In its... 

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Arch Coal 2nd-Quarter Profit Soars

Coal producer Arch Coal Inc. said Friday its second-quarter profit soared because of better contract terms and a restructuring and the company forecast strong demand for coal going forward. Net income in the quarter jumped to $69.6 million, or 48 cents per share, from $1.7 million or a penny per share, in the prior-year period. Income from operations leaped to $99.8 million versus $21.5 million last... 

Caterpillar’s Earnings Gain 38% on Mining Products

aterpillar Inc., the world’s largest maker of earthmoving equipment, said second-quarter profit rose 38 percent as demand for mining trucks and power generators fueled sales. Net income increased to $1.05 billion, or $1.52 a share, from $760 million, or $1.08, a year earlier. Sales gained 13 percent to $10.6 billion, the Peoria, Illinois-based company said today in a statement distributed by... 

Coal export only ‘after meeting domestic demand’

THE government is expected to give its approval to the country’s first ever coal policy very soon. The final draft of the coal policy will be placed before the Cabinet shortly. Once endorsed, the coal policy will give certain basic rights to the government to lease out the existing coal mines of the country, including the Phulbari coalmine. Earlier, an inter-ministerial meeting finalised the...