Investors with US$41 trillion urge G7 to end support for coal
A group of 457 investors, which oversees more than US$41 trillion in assets combined, and a coalition of 79 company CEOs are calling on the G7 — Canada, France, Germany,…
Coal
World’s third-largest pension fund to limit coal-linked investing
South Korea’s state pension fund, the world’s third-largest, says it will stop funding new coal power projects at home and abroad, joining global efforts to reduce carbon emissions and pursue…
Australia’s Macquarie bank to exit coal by 2024
Australia’s investment bank Macquarie Group said on Friday it will stop financing coal projects by 2024, adding to a long list of local financial institutions that have withdrawn their support…
Vale buys Mitsui’s stake in Moatize amid plan to exit coal
Vale (NYSE: VALE) has inked a deal to acquire Mitsui & Co’s stake in the Moatize metallurgical and thermal coal mine and port project in Mozambique, as the Brazilian miner…
Glencore shareholders revolt over CEO’s pay
Proxy adviser Glass Lewis, one of Glencore’s (LSE: GLEN) top shareholders, is pushing investors to vote against the company’s plans to pay its new chief executive Gary Nagle up to…
Cumbria coal mine on hold after UK Gov’t calls for public inquiry
A public inquiry will be held into plans for the UK’s first deep coal mine in 30 years after government U-turn.
TSX posts modest dip, Feb. 15-19
The S&P/TSX Composite Index fell 75.93 points (0.41%) to finish the Feb. 15-19 trading week at 18,384.27. The Global Base Metals Index rose 10.2% to 169.75 and the Global Mining…
BHP’s outlook and record dividend fuel supercycle talk
BHP (NYSE: BHP; LSE: BHP; ASX: BHP) reinforced talks of a new supercycle today by rewarding investors with a record US$5.1 billion first-half dividend and forecasting a “very constructive” outlook…
Alberta reinstates 1976 coal policy after public outcry
Bowing to public pressure, Alberta has reversed course on its decision last May to rescind the province’s 1976 policy governing coal exploration and development in the Eastern Slopes region of…
Former Anglo American boss Cynthia Carroll joins Glencore’s board
Miner and commodities trader Glencore (LSE: GLEN) has added a third female director to its nine-person board, appointing former Anglo American (LSE: AAL) chief executive Cynthia Carroll to its board….
The View from England: Early signs of romance for British miners
Hard on the heels of the most depressing time of the year in the U.K. (commonly regarded as the third week of January) we have had uplifting celebrations in Scotland…
Glencore chooses coal head Gary Nagle as new CEO
Mining and commodities trader Glencore (LSE: GLEN) said today that Gary Nagle, the head of its coal division, would replace Ivan Glasenberg as the company’s top boss early next year. Glasenberg, who has…