Investors irked by Glencore’s stance on thermal coal AGM vote

Mining News Pro - Investors pushing for more transparency on miner Glencore’s thermal coal production said its decision not to support a shareholder resolution on the topic showed a “fundamental lack of willingness to engage”.

Canada to ban thermal coal exports by 2030

Mining News Pro - Prime Minister Justin Trudeau said Canada will stop exporting thermal coal by 2030 at the latest as part of the country’s plans to support the global phase-out of the fossil fuel in favour of cleaner alternatives.

Canada’s Coal Association responds to Ottawa’s thermal coal mine ban

Mining News Pro - The Coal Association of Canada says Ottawa’s recent ban on new thermal coal mining projects or plans to expand existing mines on environmental damage grounds will lead to the market gap left being filled with inferior-quality coal from elsewhere.

New federal policy makes it harder to develop Canada thermal coal projects

Mining News Pro - The Canadian government on Friday announced its thermal coal mining policy, which will make it harder for new thermal coal mining and expansion projects to be approved.

Canada to reject any future thermal coal mining projects

Mining News Pro - The Canadian government will no longer approve thermal-coal mining projects because of their contribution to the climate crisis.

Anglo American, South32 walk away from thermal coal

Mining News Pro - Anglo American is the second company to cut off its South African thermal coal assets following a similar move by South32 last week.

Anglo American to demerge South African thermal coal assets

Mining News Pro - Diversified mining and marketing company Anglo American is to demerge its South Africa thermal coal operations, the company said on Thursday.

US thermal coal earnings to rise, with some ESG risk caveats

Mining News Pro - Earnings for US-based thermal coal producers will improve in 2021, Moody’s Investor Service predicts in its latest industry report. Specifically, domestic coal consumption will increase by 5%-10% in 2021, and US thermal coal producers will generate stronger earnings and cash flow, facilitating modest debt reduction for certain stronger producers and some producers’ transitions toward metallurgical coal production, the researcher said.

Itochu to exit thermal coal business by 2024

Mining News Pro - Itochu Corporation plans to start divesting its thermal coal mining assets in Australia from this year.

Sedgman wins $120m thermal coal contract extension

Mining News Pro - CIMIC Group subsidiary Sedgman has received a $120 million contract extension at Mach Energy’s Mount Pleasant thermal coal mine in New South Wales.

South Africa approves South32 thermal coal operations sale

Mining News Pro - South Africa’s antitrust tribunal on Wednesday approved the sale of Australia’s South32 thermal coal business to Seriti Resources Holdings, clearing another hurdle in the miner’s way to sealing the deal.

Anglo American to divest from thermal coal operations by 2023

Mining News Pro - Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday.

TerraCom rides on thermal coal recovery

Mining News Pro - TerraCom has delivered strong operational results at its Blair Athol mine in Queensland despite a challenging thermal coal market.

Seaborne thermal coal demand to rise over next decade

Mining News Pro - The Minerals Council of Australia released a report related to the outlook for seaborne thermal coal in terms of demand to 2030 in the Asia Pacific region.

Thermal coal demand in Asia to rise

Mining News Pro - New research conducted on behalf of the Minerals Council of Australia (MCA) has noted that the demand for thermal coal imports in the Asia Pacific region will grow by more than 270-million tonnes to 2030, to reach 1.1-billion tonnes a year.

US miners are trying to get out of thermal coal busines

Mining News Pro - U.S. coal miners are searching for an exit from the power business, or getting pushed there.

No thermal coal price recovery to 2019 highs

Mining News Pro - Fitch Solutions is revising down its thermal coal price forecast for 2020 to $55/tonne from $65/tonne as demand for Newcastle coal is set to remain weak while supply is ample, the market analyst said in its latest report.

Anglo American flags thermal coal exit

Mining News Pro - Anglo American chief executive Mark Cutifani is mulling over the company’s exit from its South African thermal operations.

BHP is said to rebuff early bids under plan to quit thermal coal

Mining News Pro - BHP Group has rejected early offers for its Australian thermal coal business that missed the miner’s own valuation as the year-long hunt for a buyer continues, according to people familiar with the matter.

$83bn Australian pension fund to divest from thermal coal

Mining News Pro - Australia’s second-largest pension fund aims to almost halve carbon emissions across its investments within a decade as it joins global peers in mitigating the risks of climate change. first state super said it will advocate for Australia’s economy to reduce its greenhouse gas emissions by 45% by 2030 and replicate the target in its portfolio.

BHP to sell Australian thermal coal mine

Mining News Pro - BHP, the world’s largest miner, is said to have hired Macquarie Bank and JP Morgan to sell its Mt Arthur thermal coal mine in Australia, as pressure from investors and the public to reduce its exposure to fossil fuels mounts.

Westpac to scrap thermal coal funding

Mining News Pro - Westpac plans to back out of thermal coal mining by 2030 in a move to fulfil the bank’s zero emissions targets.

Glencore’s fall in coking coal output softened by thermal coal

Mining News Pro - Glencore has greeted 2020 with a steep decline to its Australian coking coal production, but its thermal coal portfolio offset the blow.

Citi to stop working with thermal coal miners, to reject funding for Arctic oil, gas exploration

Mining News Pro - Citigroup will stop providing financial services to thermal coal-mining companies over the next 10 years to help accelerate the economy’s shift away from fossil fuels.

Canada to launch strategic assessment for new thermal coal projects

Mining News Pro - Canada’s Minister of the Environment and Climate Change, Jonathan Wilkinson, in partnership with Natural Resources Minister, Seamus O’Regan, have announced that Canada will launch a strategic assessment looking into how future new thermal coal mine projects will be assessed under the government’s Impact Assessment Act.

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