CA-Black-Transp

Teck Updates Coal Guidance

Teck Resources provided an update to its coal guidance for the fourth quarter. In light of ongoing strong spot prices for steelmaking coal, Teck expects its average blended realized price for all of its steelmaking coal products in the fourth quarter of 2016 to be in the range of $200 to $205 per metric ton (mt). 

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Alpha Announces 2017 Production Goal of 13 Million Tons

Alpha Natural Resources recently announced its plan to produce 13 million tons of coal in 2017. Alpha CEO David Stetson said about half will be sold into the thermal market for power generation and half into the metallurgical market for steel production.

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Moody’s Boosts North American Coal Industry Outlook

Despite persistent challenges, the outlook for the North American coal industry has been revised to stable from negative, Moody’s Investors Service said in a new report. A combination of fourth quarter 2016 metallurgical coal benchmark prices settling at $200 per metric ton (mt) and natural gas prices hovering around $3/MMbtu has provided immediate relief for the strained sector.

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Miners Should Benefit From Trump Win

It happened in Europe earlier this year and now it has happened here in the U.S. A movement that the mainstream media and the political elite had discounted will now change the direction of the country and possibly alter the global economy. Voters, many of whom felt their voices were not being heard, turned out to support Donald J. Trump, a billionaire business man who decided to take on the establishment. As the ballots were tallied, it became clear that a huge turnout in rural areas was offsetting the votes cast in the urban areas. He not only pulled off a political upset that shocked the left, but the Republican also walked away with a majority in both houses of Congress.

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Peabody Enters Into Agreement to Sell Metropolitan Mine

On November 2, Peabody Energy announced that one of its Australian subsidiaries has entered into a definitive agreement to sell the Metropolitan mine in New South Wales, Australia, and its associated 16.67% interest in the Port Kembla Coal Terminal to a subsidiary of South32 Ltd. for US$200 million in cash, subject to customary working capital adjustments. The sale is expected to release Peabody of approximately A$20 million in financial assurances, in the form of bank guarantees and cash, that will be replaced by South32 upon completion.

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