Coal Mining

Updated Nov. 14, 2023 5:10 am ETCanadian miner Teck Resources said it is selling its coal assets to a group led by mining and trading giant Glencorein a deal that would cap a lengthy saga and be one of the biggest in mining this year.The transaction would value the business at around $9 billion. Under the terms of the deal, Switzerland-based Glencore will pay $6.93 billion for a 77% stake. Japan-based steelmaker Nippon will hold a 20% stake after converting existing holdings in some of Teck’s coal operations and paying…

Gary Hairston worked as an electrician in an underground coal mine for almost 30 years. It was hard, often grimy work. When a big machine called a continuous miner dug into the hard earth, it kicked up all kinds of dust. Slowly, Hairston began to notice that daily tasks wiped him out. Is Google's New $1,800 Pixel Phone Worth It? | Gizmodo ReviewAt night he woke up struggling for breath. He developed a nasty cough that worsened over time. During a routine health screening a few years ago, doctors noticed a spot on his…

The commodities giant is willing to buy Teck’s unit as an alternative to a full merger. The commodities giant is willing to buy Teck’s unit as an alternative to a full merger. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do…

Mining companies are back at the deals table as they battle for control of commodities essential for making electric cars and renewable-energy infrastructure. The world’s largest miner is set to seal its biggest deal in more than a decade. An American gold giant is seeking to acquire an Australian rival that is rich in copper. And a Swiss commodities company has made two proposals to combine with a century-old Canadian competitor. Mining companies are back at the deals table as they…

The Canadian miner said its own plan to split into two independent companies was in the best interest of its shareholders. The Canadian miner said its own plan to split into two independent companies was in the best interest of its shareholders. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all…

Canadian miner Teck Resources Ltd. TECK 14.37% said it had rejected an unsolicited takeover bid from Glencore GLNCY -1.92% PLC, an offer that marks the Swiss-based company’s return to the sort of ambitious acquisition activity that turned it into a commodities giant. The offer, one of the largest mining takeover attempts in several years, would value Teck at around 31 billion Canadian…

This story was originally published by Grist. You can subscribe to its weekly newsletter here.Almost 1,000 coal miners at Warrior Met Coal in Brookwood, Alabama, are returning to work after nearly two years without an improved contract, marking an end to the longest strike in the state’s history. It’s a disappointing outcome for the union, illustrating how declining industry and the lack of other job opportunities in coal country leaves even exceptionally well organized workers with little leverage.Miners at Warrior Met…

Greta Thunberg was briefly detained by German police at a demonstration over a coal mine expansion along with multiple other demonstrators on Tuesday. Thunberg was carried off by cops and was eventually seen sitting in a police bus alone. However, just a few hours later, the 20-year old Swedish climate activist was let go after her identification was verified, police reportedly told Reuters. The police claimed all the other protestors would also be released without official arrest or charges, following ID checks,…

Workers photographed on top of a train loaded with coal in China. Global use of coal is projected to increase by 1.2% this year and hit a record high, according to the International Energy Agency.VCG | Visual China Group | Getty ImagesGlobal coal use is on course to increase by 1.2% to hit a record high this year, according to a report from the International Energy Agency.It comes at a time of significant volatility and uncertainty in global energy markets, with the IEA stating that Russia's invasion of Ukraine in Feb.…

Peabody, the largest U.S. coal producer, and Coronado on Monday said they had agreed to end discussions over a combination that would have brought together assets from North America to Australia. Neither company gave a reason for the failure of the talks or disclosed the financial terms that had been proposed. The mooted tie-up had been seen as an indicator of how the coal-price surge that followed Russia’s invasion of Ukraine is transforming the sector’s fortunes. Several coal miners have seen their cash piles grow,…