Teck cuts jobs, dividend
Diversified miner Teck Resources (TSX: TCK.B; NYSE: TCK) is slashing jobs and lowering its dividend to protect its liquidity amid the commodity price collapse.
Coal
TSX climbs higher, Oct. 19-22
The Toronto stock market ended higher as investors took in prime minister-designate Justin Trudeau’s majority win in the federal election. Canada’s new prime minister promises to invest heavily in infrastructure, among other areas,…
Amerigo secures new resource in old tailings
Amerigo Resources (TSX: ARG; US-OTC: ARREF) hasn’t lost much time since it cut a deal with Codelco in April 2014 to treat a new source of tailings from the miner’s El Teniente mine — the world’s largest underground…
Wood Mackenzie goes long on met coal
Joe Aldina, principal research analyst for metal and energy consultant Wood Mackenzie, says that supply for metallurgical coal should level with demand by 2023, and although he expects met coal prices will rise, global producers “are not…
Optimists see ‘gems’ in besieged coal markets
VANCOUVER — Attending the Coal Association of Canada’s annual gathering here in downtown Vancouver, it’s clear it’s a pretty terrible time to be in the coal business, and that goes for both the metallurgical (met or…
Anglo Pacific has ‘turned the corner,’ CEO says
For Anglo Pacific Group (TSX: APY; LSE: APF), royalty income in the first half surpassed all of the royalty income earned last year. And while the company posted an after-tax loss for the six months ended June 30, it was a much smaller one than…
US stocks fall, Aug.17-21
U.S. equities tumbled as investors took in new data signaling a slowdown in China and a report that showed an unexpected rise in U.S. crude stockpiles, fuelling concerns of a global oil surplus. The S&P 500 Index and the Dow Jones…
Strong headwinds for thermal coal
A year ago, South Africa’s Exxaro Resources (JSE: EXX; US-OTC: EXXAY) agreed to pay US$472 million to acquire 100% of Total’s (NYSE: TOT) South African thermal coal unit Total Coal South Africa Pty., which includes a majority…
Facts ‘n’ Figures: Coal, nuclear and renewables to boost Vietnam’s electricity capacity
Vietnam is poised to transform its electrical power generation mix over the next two decades, as it modernizes the country’s agrarian economy to become a more industrialized nation. To accommodate greater industrial expansion and support…
Facts ‘n’ figures – Potash bid tops Q2 M&A activity: KPMG report
The following is an edited excerpt from KPMG’s Mining M&A Quarterly Newsletter. For more information and to see the full report visit www.kpmg.com
Editorial: US coal miners in crosshairs of Clean Power Plan
U.S. President Barack Obama has unveiled his administration’s sweeping plan to curb carbon emissions from U.S. power plants, and the news has domestic coal miners and coal-consuming states squirming.
Teck chugs along, amid plunging coal prices
Teck Resources (TSX: TCK.B and NYSE: TCK) has posted decent second quarter results. But analysts remain cautious about the diversified miner’s path forward, amid weakening coal markets.