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Coal Prices Begin to Firm |
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Friday, 26 April 2013 11:05 |
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BHP Billiton and several major Japanese steelmakers agreed on March 21 on a price of $172/mt for Australian coking coal, up 4%, for the April-June period.
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Brazil’s Vale Lifts Force Majeure in Mozambique |
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Friday, 26 April 2013 11:04 |
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Officials at Vale have lifted force majeure on several coal sales contracts in Mozambique following disruption by severe rainfall.
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Mechel Signs Major Coking Coal Agreement with Baosteel |
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Friday, 26 April 2013 11:01 |
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Mechel, one of Russia’s top mining and metals companies, signed a coking coal supply deal with China’s Baosteel Resources. According to the agreement, Mechel Carbon will supply Baosteel with 960,000 metric tons (mt) of coking coal annually over a one-year contract with possibility to renew; the monthly price will be corrected.
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Walter Energy to Idle Canadian Coal Mine |
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Friday, 26 April 2013 11:02 |
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According to Reuters, Walter Energy Inc., facing an activist investor that wants to replace half its board, said on March 22 it would idle a high cost metallurgical coal mine in western Canada within the next few weeks, sending its shares nearly 4% higher.
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Indonesia’s PT Adaro Posts 30% Drop in 2012 Net Profit |
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Friday, 26 April 2013 11:00 |
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PT Adaro Energy Tbk, Indonesia’s No. 2 coal miner, has reported a 30% net profit decrease in 2012 to $385.35 million, while revenue fell by 6.7%. Company officials credited falling coal exports, representing 93% of revenue, to the decrease.
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