Five top mining execs. convicted over Turkey’s worst mine disaster

Having trouble viewing this email?  View online Coal News Digest Tuesday 7 August 2018 Home    Coal    Copper    Iron Ore    Nickel    Rare Earth    Oil Sands    Uranium    Zinc Five top mining execs. convicted over Turkey's worst mine disaster The sentences range from 15 to 22 years in jail for high-ranked executives. read » Coal miners to see improved finances: BMI The market research firm states that despite coal being an increasingly targeted commodity on environmental protection grounds, the demand remains strong. read » Rio Tinto down despite $7.2bn cash return to investors Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts. read » Caterpillar says tariffs will wipe out up to $200M Demand for mining as well as oil and gas equipment is so strong that the company said it was taking orders for delivery well into 2019. read » Environmentalists worried about prospecting in New Zealand's South Island The government lifted a moratorium for prospecting permits on 7,828 square kilometres on the northern part of the South Island. read » South African diamond fetches half a million dollars The gem was sold on tender for $11,267 per carat. read » Canada scaring mining investors with long, unclear permit processes Study released Tuesday by the Fraser Institute, British Columbia, Ontario and Quebec are the three main provinces where exploration permit processes have grown longer and less transparent over the past 10 years. read » Miners wrote off almost one-third of investments over last decade From the $939bn invested in major projects between 2008 and 2017, the world's top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay. read » Reduced head count, capex spending biggest contributor to mine efficiency mid-decade: McKinsey To stay productive, McKinsey warns that miners must maintain fiscal discipline. read » Private equity firm to deploy $550 million into mining sector Targeting close or ready for production. read » Thermal coal prices hit 6-year high Seaborne price for coal used in electricity generation scales $120 a tonne as South Africa diverts exports for domestic use and Asian demand spikes. read » Our four favourite charts from PWC's mining industry survey "He's my favourite." read » Brazilian ex-billionaire Batista sentenced to 30 years in jail for bribery Eike Batista, who was once one of the richest men in the world, was found guilty of bribing former Rio de Janeiro governor Sergio Cabral in exchange for contracts. read » China's Shandong province cuts steel and coal capacity in environment plan Shandong's Environmental Protection Bureau said it would cut pig iron production capacity by 600,000 tonnes and crude steel by 3.55 million tonnes by the end of this year. read » Arch Coal is the incredible shrinking miner Despite President Donald Trump's repeated assertions of its bright future, coal mining is a dying industry and the secret to a long life in this twilight era is accepting mortality. read » BHP, Rio deals show lack of options beyond shareholder returns: Russell BHP Billiton last week agreed to sell its U.S. shale oil and gas assets for $10.5 billion, while Rio Tinto appears on track to exit its troubled investment in the giant Grasberg copper and gold mine in Indonesia for about $3.5 billion. read » Indonesia unlikely to change coal supply, pricing rules until 2019 Any revisions would need to be discussed with the coal and power industry beforehand, and any impacts on state revenue would need to be calculated. read » Anil Agarwal given more time to make firm offer for Vedanta Resources He has been given more time to make a firm offer or walk away from a deal to buy out minority shareholders in Vedanta Resources for 778 million pounds ($1 billion). read » Will BHP's CEO follow Top Miner's shale unit out of the door? BHP Billiton Ltd.'s $10.8 billion of deals to exit its troubled U.S. shale unit will allow Chief Executive Officer Andrew Mackenzie to shower investors with returns. It may also be a chance for him to bow out on top. read » India's Adani sees six-fold rise in coal mining volume despite challenges in Australia Adani is looking to buy mines in countries such as Indonesia and is securing financing for its Carmichael mine in Australia amid challenges from environmental groups concerned about climate change and potential damage to the Great Barrier Reef. read » Four miners killed in Georgia in coal mine accident, officials say The government will close the mine until an investigation is complete and it gets the conclusions of international experts. read » Australia's Yancoal halts Austar mine amid safety dispute Yancoal said it will start standing down employees, and is aiming to redeploy most workers to other underground operations owned by the company. read » Burning villages, ethnic tensions menace Mozambique gas boom Women's cries just after 1 a.m. confirmed Barnabe Samuel Mussa's worst fears — an attack was underway. read » Commodities face a twin threat, Morgan Stanley says Amid the warnings, copper was listed as the top pick after palladium. read » Read more Coal news on MINING.com » Home    Coal    Copper    Iron Ore    Nickel    Rare Earth    Oil Sands    Uranium    Zinc About Us   |  Privacy Policy  |  Unsubscribe   |  Contact Us   |  Advertise This email was sent to you by InfoMine Inc. 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