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Alberta Proposes Deal to Close Coal-fired Power Plants

The Alberta government might pay three coal power producers more than $1 billion over the next 14 years to compensate them for shutting down their plants early as part of its climate change agenda, the Calgary Herald reported. The province is nearing the end of negotiations over contract disputes that led to a controversial lawsuit, reaching three agreements with companies, two of which are tentative. Talks with a fourth player, Calgary-based public utility Enmax, are ongoing.

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North Korea Rejects UN Sanctions on Coal Exports

The United Nations Security Council has unanimously imposed sanctions on North Korea, placing a cap on the country’s coal exports in response to its nuclear tests. The new resolution demands that North Korea “abandon all nuclear weapons and existing nuclear programs” and takes aim at the state’s exports of coal, its top external revenue source. Under Resolution 2321, North Korea will be restricted from exporting more than 7.5 million metric tons (mt) of coal next year, a 62% reduction from 2015.

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Anglo Agrees to Sell Share in Exxaro

Anglo American has agreed to sell its 35 million ordinary shares, representing a 9.7% interest. Main Street 333 Proprietary Ltd. has agreed to sell approximately 17 million ordinary shares in Exxaro Resources Ltd. at a price of ZAR87 per share.

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WVDEP, Alpha Natural Resources Reach $15 Million Settlement

The West Virginia Department of Environmental Protection (DEP) has reached an agreement with Alpha Natural Resources valued at about $15 million to resolve a recently filed lawsuit in the coal operator’s bankruptcy case. The settlement enhances DEP’s earlier settlement with Alpha and will provide additional bonding and other security for the coal operator’s ongoing reclamation obligations in West Virginia.

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News - November 2016

Moody’s Boosts North American Coal Industry Outlook • Corsa to Open Acosta Mine • Sunrise Gets Approval for Oaktown Mine Shaft • Hallador Sees Improvement in US Steam Coal Market • Alliance Posts Record Sales for 3Q • Minnesota Power Idling 2 Units at Boswell • Luminant Closing Oak Hill Mine • Contura Seeking to Permit, Mine PA Reserves • Paringa’s Detection of No. 11 Coal Seam Places it Closer to Becoming Top Producer

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