The People’s Bank of China has issued an urgent notice on continuing provision of credit to competitive coal and steel companies, according to Southern Metropolis Daily. The note is in sharp contrast to notices in recent years restricting credit to these sectors, KallanishSteel, sister publication to Kallanish Energy, notes. […]
Bankrupt mining giant Peabody Energy announced last week the judge presiding over the company's Chapter 11 process in the U.S. Bankruptcy Court for the Eastern District of Missouri has ruled he intends to confirm the company's amended plan of reorganization.
China plans to eliminate more than 150 million tonnes/year of coal capacity in 2017. New price monitoring systems, lax coal production restrictions and long-term supply contracts between coal miners and buyers show, however, that the government is trying hard to avoid the dramatic coal price fluctuation seen in 2016.
Arch Coal said Tuesday it’s increased its equity share in Dominion Terminal Associates (DTA) to 35% from 22%, growing its throughput capacity to 7.7 million tons, from 4.8 million tons, in a $7.2 million deal.
Moody's Investors Service last week placed all ratings of Murray Energy on review for upgrade, including the Corporate Family Rating (CFR) of Caa2, Probability of Default Rating (PDR) of Caa2-PD, and the Caa1 rating on the first-lien term loan.