More headaches for Anglo at Minas-Rio
Skyrocketing costs are eating into the pocketbooks of miners across the industry and Anglo American (AAL-L, AAUK-Q) is no exception.
Coal
Teck wobbles in third quarter
Teck Resources (TCK-T, TCK-N) produced a record 99,000 tonnes of copper in the third quarter, up 29% year-on-year, but lower commodity prices and sale volumes for its steelmaking coal sent the miner’s adjusted net earnings down to $349…
Earnings miss for Cliffs Natural Resources
A severe 36% year-on-year drop in prices for seaborne iron ore during the third quarter torpedoed earnings for Cliffs Natural Resources (CLF-N). The iron ore and metallurgical coal producer’s consolidated revenues fell 26% to US$1.5…
Earnings miss for Cliffs Natural Resources
A severe 36% year-on-year drop in prices for seaborne iron ore during the third quarter torpedoed earnings for Cliffs Natural Resources (CLF-N). The iron ore and metallurgical coal producer’s consolidated revenues fell 26% to US$1.5…
Teck wobbles in the third quarter
Teck Resources (TCK.B-T, TCK-N) produced a record 99,000 tonnes of copper in the third quarter, up 29%-year-on-year, but lower commodity prices and sales volumes for its steelmaking coal sent the miner’s adjusted net earnings down to $349…
Alpha closes mines, cuts 9% of workforce
Alpha Natural Resources (ANR-N), the number-two coal miner in the U.S., may have its credit ratings lowered by Standard & Poor’s after curbing production and shutting eight coal mines, to stay profitable as demand drops.
Queensland’s new tax angers coal miners
Australia’s biggest miners say the Queensland government’s latest move to hike royalties on coal operations will cause more job losses and project cancellations in the troubled sector.
Alpha faces lower credit rating after closing 8 mines
Alpha Natural Resources (ANR-N) may have its credit ratings cut by Standard & Poor’s after it said it will curtail production and close eight of its U.S. coal mines to stay profitable in the low price environment.
Queensland’s new coal royalties upset miners
Australia’s biggest miners say the Queensland government’s move to hike royalties on coal operations will cause more job losses and project cancellations in the troubled sector.
Prophecy Coal looks to satisfy Mongolia’s power needs
With the Mongolian economy growing at one of the fastest rates in the world, and China eyeing its neighbour as a potential long-term power source, Vancouver-based Prophecy Coal (PCY-T) is optimistic about its prospects for a power-purchase…
[Update] Liberty looks for a ray of light
Less than two weeks after Timmins, Ont.-focused Liberty Mines (LBE-T) temporarily halted production because of declining nickel prices and posted a positive preliminary economic assessment (PEA) for its Hart nickel deposit.
Prophecy Coal targets Mongolia’s growing power demand
VANCOUVER — With the Mongolian economy growing at one of the fastest rates in the world, and China eyeing its neighbour as a potential long-term power source, Vancouver-based Prophecy Coal (PCY-T) is optimistic about its prospects for a…