Tag: Coal

Anglo American (LON: AAL) is acquiring Teck Resources (TSX: TECK.A TECK.B, NYSE: TECK), Canada’s largest diversified miner, in a $50-billion all-share merger that would create the world’s fifth-largest copper producer — if regulators in Canada, the United States and China sign off.

China’s coal imports could drop by up to 100 million metric tons in 2025, an official at a major industry group said, potentially putting further pressure on key price benchmarks already trading at multi-year lows.

BHP Group is preparing to begin looking for a new chief executive officer in the coming months, with key lieutenants already jostling for position to succeed boss Mike Henry at the top of the world’s biggest miner.

Indonesia is proposing hiking royalties paid by miners in a bid to bolster public finances that are being strained by President Prabowo Subianto’s spending plans.

Rio Tinto (ASX: RIO; LSE: RIO) reportedly considered a bid for Anglo American (LSE: AAL) in recent months and the second largest miner has not dismissed the possibility of acquiring a portion or the entirety of the company, now a target of BHP (ASX: BHP).

China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to forecasts by the China Electricity Council (CEC), an industry group.

Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) is selling its coal assets to Glencore (LSE: GLEN) and two Asian steelmakers for US$8.9 billion, Teck said on Nov. 14.

Mining’s top industry group with BHP (NYSE: BHP; LSE: BHP; ASX: BHP) and Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) among its members has published a framework for companies to determine their emissions, including how to unravel pollution by suppliers and customers.

JSW Steel is considering forming a consortium to bid for a 75% interest in Teck Resources’ (TSX: TECK.A/TECK.B; NYSE: TECK) steelmaking coal business, according to a Bloomberg report

Glencore (LSE: GLEN) confirmed on Monday it had approached Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) with a proposal to buy the Canadian miner’s steelmaking coal business, in the latest twist in one of the mining industry’s biggest takeover battles in a decade.