Category: Coal

Around the world, buyers' remorse sets in for costly clean power

Two decades ago, governments and utilities around the world began offering above-market rates and contracts to fuel the rise of clean energy, helping wind and solar become some of the cheapest power sources. Now, these pacts are under attack. In...

/ April 26, 2019

China said to maintain Australia coal go-slow until after polls

China will maintain a slowdown in coal imports from Australia until Beijing has assessed government policy in Canberra after federal elections in May, according to people with knowledge of the plan. Chinese Customs in January told local officials to start...

/ April 25, 2019

Greece's Public Power relaunches coal-fired power plants sale

Greece’s Public Power Corp (PPC) relaunched the sale of three coal-fired power plants on Friday with a March 15 deadline for expressions of interest, after a previous tender last month failed to attract any satisfactory bids. Former bidders, which include...

/ March 14, 2019

When paying $1 for a coal power plant is still paying too much

One dollar. That’s how much an aging New Mexico coal plant is worth. And by some estimates, even that may be too much. Acme Equities LLC, a New York-based holding company, is in talks to buy the 847-megawatt San Juan...

/ March 13, 2019

South Africa's Eskom may need more bailouts despite tariff hikes

South Africa’s struggling state power firm Eskom may need more bailouts from government to survive, after the country’s energy regulator on Thursday granted it smaller tariff hikes than the utility had wanted. Eskom supplies more than 90 percent of the...

/ March 8, 2019

China's 2018 coal usage rises 1%, but share of energy mix falls

* China coal use rises for 2nd year in absolute terms * Coal’s share of total energy below 60 pct for 1st time * Biggest rise in CO2 emissions since 2013 -Greenpeace * Carbon intensity cut beats target -environment ministry...

/ March 1, 2019

China coal delays not unprecedented, Australia minister says

A train loaded with coal travels towards the Qinhuangdao Port in Qinhuangdao, China, on Friday, Oct. 28, 2016. China’s efforts to quell surging coal prices showed signs they’re working, with benchmark prices dropping for the first time in a year...

/ February 25, 2019

Anglo American core profit beats, on journey to 'zero harm'

* Supports independent body to oversee tailings dams * Still sees Brazil as favourable place to mine * Open to considering buybacks ‘at right time’ (Updates with share price, CEO comment, analysts) Anglo American reported on Thursday better than expected...

/ February 23, 2019

Death toll from South African mine blast rises to 18 as 13 bodies recovered

Rescuers have retrieved another 13 bodies from a disused South African coal mine following a gas blast there around two weeks ago, police said on Friday, raising the confirmed death toll to 18. More than 20 people were trapped underground...

/ February 23, 2019

The $32 trillion pushing fossil fuel CEOs to act on climate

Behind Glencore Plc’s decision to limit coal investment is a little-known, but powerful group of investors. Glencore made its decision after facing pressure from a shareholder network known as Climate Action 100+, which has the backing of more than 300...

/ February 22, 2019

Australia says coal market 'booming' as it dismisses Glencore cuts

* Australia Resources Minster says Glencore acting in self interest * Glencore says will cap coal output around 145 mln tonnes * Coal is Australia’s biggest commodity export revenue generator * Glencore is the world’s largest exporter of thermal coal...

/ February 22, 2019

Colombia coal output likely to hold steady in 2019, companies say

Colombia’s coal production and exports are likely to remain steady this year, companies said on Wednesday, amid predictions international prices for the fuel will fall in 2019. The Andean nation is the world’s fifth-largest exporter of coal.  Fitch Solutions reduced...

/ February 14, 2019