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Hunnu Coal Acquires Interest in Tsohio Coal Project |
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Tuesday, 20 July 2010 15:21 |
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Hunnu Coal has acquired a 60% interest in the Tsohio Coal Project, which is located approximately 40 km south of the company’s Khuree 2 coal project in the Umnugobi Province of Mongolia between the Tavan Tolgoi coking coalfield and South Gobi Energy Resources’ coalfield and 60 km north of Mongolian-Chinese border.
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World Bank will Not Fund Pakistani Coal Project |
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Tuesday, 20 July 2010 15:20 |
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The World Bank will not finance coal-fired power plants in Pakistan which faces a severe energy crisis in the wake of depleting gas fields and too much dependence on the expensive imported oil, The News reported. The World Bank said it has decided not to proceed with the Thar coal technical assistance project.
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Noble Extends Takeover Bid for Gloucester Coal |
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Tuesday, 20 July 2010 15:19 |
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Singapore’s Noble Group has extended its A $.03 billion takeover bid for Australian coal miner Gloucester Coal by one month. The offer was scheduled to close on July 5 but will now close August 4. Noble has an 87.73% interest in the target. Gloucester’s independent directors last month advised the miner’s shareholders to accept the offer of A$12.60 cash for each Gloucester share held.
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QR Rails First Coal from Hunter Valley Mine |
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Tuesday, 20 July 2010 15:20 |
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National transport and logistics company QR has begun railing coal from Felix Resources’ new Moolarben coal mine in the Upper Hunter Valley of NSW to the Port of Newcastle under a new US$870 million contract. Recently the train was the first of an estimated 17,000 services QRNational Coal will run for Felix over the life of the contract.
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Steel Firms, BHP Billiton Agree to 12.5% Coal Price Hike |
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Tuesday, 20 July 2010 15:19 |
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Some leading Japanese steel makers and BHP Billiton Ltd. have agreed on a 12.5% increase in the price of coking coal for the July-September quarter from the current quarter, according to Dow Jones. The Japanese companies will pay $225 for a metric ton of high-grade coal during the quarter to September, said the sources who declined to name the companies in agreement.
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