Australian listed company Bathurst Resources (ASX:BTU) is looking forward to developing an open cut coal mine in the Buller region of the west coast of South Island in New Zealand. The company says that the mine would have the highest safety and environmental standards.
The Indian coal deficit will be all the more evident in the coming year. India is currently facing acute coal shortage and will be required to import fuel in even larger quantities in the future. The shortage in the next fiscal year will reach 104 million tonnes as per Sriprakash Jaiswal, the Indian Coal Minister.
Rhino Resource Partners LP (NYSE: RNO) announced today that the Illinois Department of Natural Resources has granted a permit to its subsidiary, Taylorville Mining LLC, for an underground coal mine just outside of Taylorville, Illinois.
The company is believed to have acquired a 37% stake in the Vlakplaats coal mining project for US$ 13.8 million from the Australian company Continental Coal.
29 people died at the Pike River coal mine in New Zealand after an underground explosion causes a fire to rage through the mine. The rescue efforts after the explosion were stalled due to the presence of inflammable and toxic gases. With a fourth explosion at the mine this week the coal fire was made visible above ground through a ventilation shaft.
The Fortescue Metals Group is looking to diversify into coal in Queensland. The third largest iron ore producer in Australia is owned by Mr Andrew Forrest, who along with mining magnates Clive Palmer and Gina Rinehart, is looking to develop new projects in the state.
Novadx Ventures Corp. (TSX VENTURE:NDX) has announced that it, together with its wholly owned subsidiary, MCoal Corporation, has entered into a Coal Production Payment Agreement and an Additional Coal Purchase Agreement with Sandstorm Metals and Energy Ltd. (TSX VENTURE:SND) to sell a production interest in three coal streams in return for a US$38 million advance payment and subsequent additional payments to be received on shipment of coal.
A coal terminal that has been proposed in Longview, Washington State could be sending major coal exports to Asia within the next couple of years. The company which hopes to develop the terminal, Ambre Energy, received approval on Tuesday from the Cowlitz County Board of Commissioners.
The mining industry is the largest generator of jobs in Queensland with more than 130,000 jobs being created directly and indirectly by the industry in the last year in Brisbane alone, according to a Queensland Resources Council report released this week. The Queensland mining industry has also generated around $3.8 billion in income tax in the last financial year as well.
Farmers in southern Queensland, Australia are willing to be jailed as part of their protest campaign against planned coal and gas mining in the region.
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