Agence France Presse Sydney 28 July 2014 Australia has approved a massive coal mine that could ultimately provide electricity for up to 100 million Indians, angering environmentalists who warned Monday it may threaten the Great Barrier Reef. Environment Minister Greg Hunt said approval for Indian firm Adani’s Aus$16.5 billion (US$15.5 billion) Carmichael coal mine and … Read more
JOHANNESBURG (Reuters) – Mining group Exxaro said on Monday it had acquired South African coal assets of French oil company Total for $472 million. Exxaro, South Africa’s second-largest coal producer which also has interests in iron ore and base metals, signalled earlier this year that it was looking at buying Total Coal South Africa (TCSA) to grow its … Read more
BHPBilliton CEO Marius Kloppers had bad news for some base metal prices at his AGM this morning. He reckons the China-driven boom for iron ore and coal prices is over. After the inflation of the past decade, prices are reverting to a lower mean. I have cut away the verbiage to help make his message easier to understand. It’s clear: get out of shares like Kumba, Exxarro, ARM and even steel-maker Mittal.