SouthGobi Energy Resources Receives Mining Licence For Tsaagan Tolgoi Coal Deposit
Alexander Molyneux, President of SouthGobi Energy Resources Ltd. announced that Mongolian authorities have issued a mining licence for the Tsaagan Tolgoi coal property that is held by the company’s Mongolian subsidiary, Southgobi sands LLC. The Tsaagan Tolgoi property is in the South Gobi Region, approximately 415 kilometres east of SouthGobi’s Ovoot Tolgoi coal mine. An independent NI...
Mechel Announces Progress in Constructing the Railway Spur Track to the Elga Coal Deposit
Mechel OAO announces that its Yakutugol HC OAO coal mining subsidiary continues active operations in constructing the road to the Elga coal deposit. The total length of the railroad will be more than 315 kilometers. At present, traffic is possible from the Ulak station towards the Elga deposit up to the 270th km. In addition, 80 km of the access motor road have been repaired, 143 km of motor roadbed...
Foundation Coal Announces Idling of the Laurel Creek Mining Complex
Foundation Coal Holdings, Inc. said that the Laurel Creek mining complex operated by Foundation Coal affiliates will be idled effective immediately. The Laurel Creek complex, which produced approximately 1 million clean tons of coal in 2008, consists of three active underground mines and an associated preparation plant. The decision to idle the Laurel Creek complex is based on its high cost structure,...
Patriot Coal Announces Closure of Jupiter Mine
Patriot Coal Corporation announced the closure of its Jupiter mining complex. The Company announced on September 29, 2008, its intention to idle the Jupiter thermal coal facility. In connection with the closing of the facility, the Company gave notice today, in compliance with the Worker Adjustment and Retraining Notification Act, that employees will be laid off from employment between March 12 and...
The American Coal Company Sues Federal Mine Safety and Health Administration for Unlawful Regulation
The American Coal Company (American Coal) filed suit against the federal Mine Safety and Health Administration (MSHA) for numerous violations of federal law and MSHA’s own regulations in inspections at the company’s Galatia Mining Complex, a complex of three separate mines in Saline County, Illinois. The suit, filed in the Southern District Court of Illinois, follows a series of complaints by the...
Severstal Resources Announces results of Take Over bid
Through its mining division Severstal Resources, OAO Severstal announced that the offer by 7027940 Canada Limited, an affiliate of Severstal, to purchase the outstanding common shares of PBS Coals Limited (formerly, Penfold Capital Acquisition Corporation)(TSX: PBS) expired at 11:59 p.m. on October 24, 2008. In order to resolve outstanding matters between PBS Coals Limited and the Offeror, the principal...
CONSOL Energy Declares Regular Quarterly Dividend of $0.10 per Share
CONSOL Energy Inc.’s Board of Directors declared a regular quarterly dividend of $0.10 per share, payable on November 21, 2008, to shareholders of record on November 5, 2008. CONSOL Energy Inc., a high-Btu bituminous coal and coal bed methane company, is a member of the Standard & Poor’s 500 Equity Index and has annual revenues of $3.8 billion. It has 17 bituminous coal mining complexes...
Mechel Acquires New Equipment to Develop the Elga Coal Deposit
Mechel OAO, one of the leading Russian mining and metals companies, announces that its Yakutugol OAO coal mining subsidiary has entered into a contract to acquire mining equipment for developing the Phase 1 pit to begin development of the Elga coal deposit. The machinery manufactured by Komatsu was provided by Mining Solutions OOO, which specializes in supplying tools and equipment for geological exploration,...
Kalimantan Acquires 100% Ownership of KSK Contract of Work
Kalimantan Gold Corporation Limited has completed the acquisition of the remaining 25% interest in its KSK Contract of Work that it did not already hold. This follows the recent receipt of approvals from the Indonesian regulatory authorities for the transaction that was initially announced on October 16, 2007. Rahman Connelly, Deputy Chairman and CEO of Kalimantan Gold, commented, “Owning 100%...
CONSOL Energy’s Buchanan Mine Resumes Production
CONSOL Energy Inc.’s Buchanan Mine near Mavisdale, Va. resumed production on Tuesday, September 30, 2008, as all remaining seals in the previous area of concern are at or above 120 pounds per square inch in compliance with federal regulations. The area in the Buchanan Mine that was being sealed is the area of the mine where a roof fall resulted in the mine being idled for nearly nine months last...
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