Peabody Energy announced it has entered into a sales agreement for its 62.5 percent interest in the Baralaba Mine in Australia with Cockatoo Coal Limited.
Peabody is receiving approximately US$33.6 million [A$52.5 million] for its interest in Baralaba, which has approximately 1.5 million tons of remaining reserves and produced approximately 330,000 tons of thermal and PCI [...]
Peabody Energy announced that its board of directors has doubled the size of the company’s existing share repurchase program, raising the total authorized amount to $1 billion. The company has been repurchasing shares under this program, which was first authorized in 2005.
“This expanded repurchase program reflects our ongoing commitment to deliver shareholder value,” said Peabody [...]
First Calgary Petroleums Ltd. announces that Eni S.p.A. (Eni) has agreed to acquire all the common shares and convertible bonds of FCP. Under the terms of the definitive agreement, shareholders will receive C$3.60 per share in cash and bondholders will receive 108% of par (plus accrued interest). The transaction values FCP’s fully diluted share capital [...]
Shares of Consol Energy Inc has recently been reported falling sharply Thursday after the coal mine operator said its second-quarter profit dipped 34 percent as productivity problems pushed up costs.
Pittsburgh-based Consol said it earned $101 million, or 54 cents per share, in the quarter. Consol earned $153.1 million, or 83 cents per share, in the [...]
Industries Inc. has completed its acquisition of the highly prospective Itigi Manyoni Uranium Property located in Tanzania. Airborne radiometric surveys have identified uranium anomalies indicating strong potential for significant uranium mineralization on VIPR’s project area.
Radiometric mapping of VIPR’s newly acquired 170 kilometer Itigi Manyoni Uranium Prospect has identified anomalies in multiple zones featuring high uranium [...]
Peabody Energy announced today that it has reached agreement to acquire 15 percent of the Millennium Mine in Queensland, Australia, and intends to acquire the remaining 0.5 percent ownership in the near future.
The company currently owns 84.5 percent of the operation, and intends to purchase the remaining equity interest following regulatory approvals. The Millennium Mine [...]
Cleveland-Cliffs Inc and Alpha Natural Resources, Inc. announced that each company’s Board of Directors has approved a definitive merger agreement under which Cleveland-Cliffs will acquire all outstanding shares of Alpha in a cash and stock transaction valued at approximately $10 billion.
Under the terms of the agreement, for each share of Alpha common stock, Alpha [...]
The Sabah Government is sticking to its decision against building a coal- fired power plant in Lahad Datu.
State Tourism, Culture and Environment Minister Datuk Masidi Manjum said the government could not afford the environmental risks of such a facility close to key pristine conservation areas.
“We are aware of the argument that coal-fired plants in the [...]
UBS Investment Research raised its forecast for the price of natural gas to $9 per 1,000 cubic feet from $7.25 per 1,000 cubic feet.
“We believe improved domestic natural gas demand trends, soaring coal prices and likely increases in the cost of electricity generation, and increased competition for LNG (liquefied natural gas) from the Asian Pacific [...]
India’s Era Engineering Innovations (EII) has committed an investment of US$5 million into coal-powered energy generation in Zambia following the just-ended Conclave on Indo-Africa Project Partnership in New Delhi.
Commerce, Trade and Industry Minister, Felix Mutati, who led the Zambian delegation to the meeting signed a Memorandum of Understanding (MoU) with EII director, Ajay Mishra over [...]
