Connect to share and comment

Australian coal baron Tinkler sells Whitehaven stake

Embattled Australian coal magnate Nathan Tinkler on Wednesday sold half of his stake in Whitehaven Coal to a US-based investment fund for about Aus$300 million (US$284 million). The Tinkler Group said the shares in the coal producer had been sold for Aus$2.96 each, a 40 percent premium to the current market price, with Farallon Capital Management snapping up a 9.9 percent stake. "While we are happy with the price we have received ... we feel strongly that this still significantly undervalues the company's underlying asset base," the Tinkler Group said in a statement.

China plans tougher quality standards for coal to tackle pollution

By Fayen Wong SHANGHAI (Reuters) - China may impose higher quality standards for imported and locally traded coal to cut air pollution, two sources said, in a move that could slash imports while boosting the fortunes of a faltering domestic industry.

Japan ready to help Pakistan overcome power shortages: JICA

Japan is ready to help Pakistan overcome the country's chronic power shortages, but at the same time it seeks comprehensive power sector reforms, a senior official from the Japan International Cooperation Agency said Friday.

Analyst upgrades Consol Energy, Arch Coal; says domestic thermal coal prices likely to rise

NEW YORK, N.Y. - Shares of Consol Energy climbed while Arch Coal was fairly steady in afternoon trading on Thursday, with an analyst raising the coal companies' ratings and price targets on the likelihood that domestic thermal coal prices will rise. "We believe that the supply-demand balance could tighten meaningfully throughout the remainder of 2013 and into 2014 as coal demand grows due to higher natural gas prices," Evan Kurtz of Morgan Stanley wrote in a client note.

Germany's clean energy drive fails to curb dirty brown coal

By Vera Eckert and Christoph Steitz FRANKFURT (Reuters) - Germany's green energy drive is proving surprisingly good for dirty brown coal as utilities squeezed by rival renewables and low wholesale gas prices use more of it. East Germany was a huge user of brown coal, or lignite, and Germany remains the world's biggest producer, but its use poses a problem for Berlin's environmental plans.

Coal fights to keep power in US energy mix

Four months after pledging to lead the United States on a path to sustainable energy, President Barack Obama faces a turning point on electricity generated from coal, one of the dirtiest of fuels. The White House was expected this week to finalize a rule to reduce emissions from all new coal-fired plants. But mixed signals on whether it will be enacted have led environmentalists to prepare litigation to force action. The rule was due to be finalized April 13.

Islamabad can use Bulgaria’s solid experience in coal power generation, Diplomat

Pakistan and Bulgaria should expand and strengthen their bilateral relations in various fields including economy, trade, culture and education, a Bulgarian diplomat said Wednesday.The two countries should expand political consultations while Pakistan can make use of Bulgaria’s solid experience in coal power generation to exploit Thar Coal, said Daniel Hristov, Head of Consular Department, Embassy of the Republic of Bulgaria.Talking to Senior Vice Chairman of Pakistan Vanaspati Manufacturers' Association (PVMA) Atif Ikram Sheikh, he said that we needs to promote economic ties

URGENT ¥¥¥ China mine blast kills 28: state media

A gas blast in a northeast China coal mine killed 28 people, authorities said Saturday, according to state media. Thirteen others were rescued after the accident Friday at Babao Coal Mine in Jilin province, said a spokesman with the provincial work safety and supervision bureau, according to the official Xinhua news agency. bur-jw/jhb

CEZ secures coal supplies, sells plant to end EU probe

By Jan Korselt and Jason Hovet PRAGUE (Reuters) - Czech power group CEZ <CEZP.PR> secured long-term supplies for one of its largest plants and cut a deal to end an EU probe, settling two out of a series troubles that have surrounded central Europe's biggest listed company. CEZ said on Tuesday it had signed a long-term supply deal with coal miner Czech Coal to fuel its Pocerady power plant, ending a long-running pricing dispute and adding up to 2 billion crowns (66.82 million pounds) to its 2013 core profit outlook.

Coal India shares fall on reported stake sale plans

Coal India shares slumped around six percent Monday after a report said the government planned to "speed up" a stake sale in the world's largest miner to reduce the country's deficit. "The government is quickly pushing ahead (with) a blockbuster share sale" of 10 percent in a bid to raise 200 billion rupees ($3.7 billion), the Economic Times newspaper said, without citing sources. "The finance ministry has already cleared the proposal," the newspaper said, adding that it awaits a final nod from the cabinet.
Syndicate content