Teck falls with lower commodity prices
The global economic downturn is hitting Teck Resources (TCK.B-T, TCK-N). Canada’s biggest diversified miner is suffering from weaker coal and copper prices as the Chinese growth story loses steam.
Coal
Cline hit hard by falling coal demand, suspends New Elk ops
Global economic woes stemming from the Euro crisis and slowing industrial activity in some of the world’s largest economies are taking a toll on coal producers, with Toronto-based developer Cline Mining (CMK-T) halting operations at its…
Editorial: Goin’ down, down
Working in a coal mine in the U.S. these days involves not only staying focused on getting your job done, but also wondering whether the company you work for can pay its bills and remain a viable concern.The industry was booming as recently as…
Cline hit hard by falling coal demand, suspends New Elk ops
VANCOUVER — Global economic woes stemming from the Euro crisis and slowing industrial activity in some of the world’s largest economies continue to take a toll on coal producers, as Toronto-based developer Cline Mining (CMK-T) opted…
Chalco and Ivanhoe extend SouthGobi deal deadline
VANCOUVER — The Aluminum Corporation of China (Chalco) and Ivanhoe Mines (IVN-T, IVN-N) have agreed to wait a month before Chalco make its official offer to buy Ivanhoe’s stake in SouthGobi Resources (SGQ-T) as doubts remain as to…
Southgobi to stop coal production at Ovoot Tolgoi
VANCOUVER — SouthGobi Resources (SGQ-T) is ramping down production at its Ovoot Tolgoi coal operation in Mongolia as it faces an uncooperative government and dwindling coal contracts.
Xstrata and JX Nippon pledge $35M to BC coal
Xstrata’s (XTA-L) coal division is wasting little time in advancing its recently secured coal fields in B.C.’s Peace River region, as it and 25% joint-venture partner JX Nippon Oil and Energy launch into a $35-million prefeasibility…
Cline Mining sues B.C. government for $500 million
VANCOUVER — Cline Mining (CMK-T) is suing the British Columbia government for $500 million in compensation for the coal licenses it lost when the government banned mining in the Flathead valley.
Commentary: Let’s not rush into carbon sequestration
Removing atmospheric carbon dioxide produced by burning fossil fuels is becoming a popular issue among environmentalists and government environmental agencies. But the issue needs more study of possible side effects.
Xstrata and JX Nippon commit $35M to B.C. coal project
VANCOUVER — Xstrata’s (XTA-L) coal division is wasting little time in advancing its recently secured coal fields in British Columbia’s Peace River region as it and 25% joint venture partner JX Nippon Oil and Energy launch into a…
Xstrata seeks buyer for Donkin
Xstrata Coal, a subsidiary of diversified miner Xstrata (XTA-L), is looking to sell its 75% stake in the Donkin coal project in Atlantic Canada.
Ocean Park and Minaurum hit promising copper intercepts in Sonora state
VANCOUVER — Ocean Park Ventures (OCP-V) and Minaurum Gold (MGG-V) have released the first drill results from the Adelita project in Mexico since teaming up on it last year, with results showing some encouraging copper hits.