Whitehaven Coal has temporarily suspended its share buyback program to allocate resources for a potential bid for BHP’s coking coal mines.
Queensland has warned mining company BHP that its mining licenses could be revoked if the company doesn’t continue investing in the state.
BHP, the world’s largest mining company by market capitalization, reported a 37% drop in its underlying profits for the year ending in June
Thungela Resources reported a 69% drop in profits during the first half of the year due to lower coal prices and logistical challenges.
US thermal coal exports increased by 21.1% in January-June, driven by higher deliveries to India which was up over 52%.
India’s JSW Steel is reportedly considering acquiring a 75% stake in Teck Resources’ steelmaking coal business.
China’s crude steel production surged by 11.5% year-on-year to 90.80 million metric tons (mt) in July
The combo of Cleveland-Cliffs & US Steel would result in the largest steel producer in the US & a monopoly on iron ore production in the USA.
Cleveland-Cliffs made an offer to acquire US Steel, valuing each share at $32.53, a 43% premium over US Steel’s last closing price.
South32 said it’ll halt some Appin Mine operations, which is part of Illawarra Metallurgical Coal, due to a strike of mining supervisors.
European natural gas prices experienced the largest jump since March of the previous year due to concerns over potential supply disruptions.
Demand for Asian thermal coal remains. Miners are offering limited spot cargo due to high production costs and royalties.