Coal

Anglo American, a global miner, announced on Wednesday a 6% drop in its copper production for the year of 773,000 metric tonnes and lowered its rough diamonds output forecasts for 2025-2026 due to lower demand. The London-listed company expects copper production to reach 690,000-750,000 tonnes in 2025 and 760,000-820,000 tonnes in 2026. Metal is used in electric vehicles and renewable energy infrastructure. The rough diamond production for 2024 fell 22%, to 24.7 millions carats. This is the lower end in its guidance. Anglo has reduced its production forecast to 20 million to 23 millions carats from 30 million-33 million carats...

These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch for the accuracy of these reports. Headlines – Starmer urges EU leaders to re-engage the UK at their meeting. – Thames Water faces new opposition to its emergency fundraising plan. – Anglo American Chief warns Trump tariffs to push up mining costs for years. Activist Elliott bought stakes in Smiths Group before announcement of breakup. – UK plans possible retaliation should Trump impose tariffs on British products. ­– Swiss watchdog begins enforcement action against Julius Baer. Overview - British PM...

Anglo American CEO Duncan Wanblad stated on Monday that the company is working hard to maximize its value in case a new M&A bidder comes along. He also expects significant progress on a much-anticipated spin-off of De Beers' diamond business this year. Anglo American, a London-listed company, rejected a hostile bid of $49 billion from BHP in May. BHP was focusing on Anglo’s copper assets. Anglo has since streamlined its operations by selling coal assets and agreeing on the separation of its platinum business. It still needs to find partners for the UK fertiliser project, which requires massive amounts of...

Germany will hold an immediate national election on February 23 after the collapse of Chancellor Olaf Scholz’s three-way alliance. The main political parties, their polling positions, and key policy issues are listed below: Parties Germany has two "big-tent", centrist parties: Scholz’s centre-left Social Democrats and the opposition Conservatives, an alliance between the Christian Democrats (CDU), and their Bavarian counterpart party, the Christian Social Union CSU. In recent years, smaller parties like the Greens or Alternative for Germany (AfD), a far-right party, have gained ground. All four parties, the SPD, Greens, Conservatives and AfD, have candidates running for chancellor. According to...

After capturing a series of villages in its southern part, Russian forces have begun to surround the strategically significant eastern Ukrainian city of Pokrovsk. Ukraine has also halted its production at its one coking coal mining near this city. Here are some key facts about Pokrovsk - which Russians refer to by its Soviet era name, Krasnoarmeysk - and the battle for power. What is POKROVSK? Pokrovsk, a hub for road and rail in Ukraine's eastern Donetsk Region, had an estimated 60,000 residents before the war. According to a Ukrainian Police statement from late January, the majority of residents have...

China's iron ore imports and seaborne coal arrivals are expected to be soft in the first quarter, with January arrivals falling to multi-month lows. The price trend for two of the most important bulk commodities is divergent. Iron ore has held steady, while thermal coal has fallen to its lowest level in almost four years. According to Kpler, commodity analysts, China is the largest iron ore purchaser in the world. It will import 99.5 millions metric tons of this key raw material for steel in January. This would be a drop from the official December customs figure, which was 112.5...

Germany will hold a snap national election on Feb. 23 following the collapse of Chancellor Olaf Scholz's threeway union. Here are the primary parties competing, their poll standings, and the essential policy concerns: PARTIES. Germany has 2 centrist, big-tent parties: Scholz's. centre-left Social Democrats (SPD) and the opposition. conservatives, an alliance of the Christian Democrats (CDU) and. their Bavarian sister party, the Christian Social Union (CSU). Nevertheless, they have both lost support over the last few years, with. smaller parties such as the ecologist Greens and. far-right Alternative for Germany (AfD) picking up speed. The SPD, conservatives, Greens and AfD...

Poland's biggest power producer PGE has struck an initial agreement to possibly buy gasfired power plant project PAK CCGT from power plant operator ZE PAK, PGE stated on Thursday. The preliminary offer also outlined plans for PGE to buy ZE PAK's 50% stake in their PGE PAK Energia Jadrowa joint endeavor, which is working on a nuclear reactor project in main Poland's Konin region, PGE said. Under the arrangement, the celebrations have concurred the basis of regards to a possible deal and PGE has actually been approved special status to negotiate an offer up until completion of June. No financial...

For 30 years, Shemsi Gara ran a huge digger in a Kosovo coal mine, churning up poisonous dust that covered his face and entered his air passages. Home life wasn't much better: the power plants that the mine materials constantly gush fumes over his village. Gara died on Sunday aged 55 after 3 years of treatment stopped working to include his lung cancer. In his last days, unable to walk, he lay on a sofa in the house, gaunt and in discomfort, as a machine pumped oxygen into his dying body. I kept informing him I wished to assist, but...

Russian coal and steel manufacturer Mechel, which was approved by the United States just under a year earlier, has actually agreed a new financial obligation restructuring as low coal costs and high rates of interest put pressure on its payment schedule. A number of Russian companies and lobby groups have actually complained about excessively high rate of interest, which ended the year at 21%. The reserve bank, which blames stalling financial investment on widespread labour scarcities, has borne the impact of the criticism. Mechel said on Tuesday it would delay 2025-26 payments on part of its primary financial obligation to...

One miner died and rescuers were trying to reach two others trapped after water and mud put into underground tunnels at the Velenje coal mine in northeastern Slovenia, mine officials stated on Tuesday. The cause of Monday night's mishap has not been established but mining inspectors were at the site, regional media reported. Eleven staff members handled to escape, while three employees remained in the area covered by debris, Premogovnik Velenje mine director, Marko Mavec, informed reporters at the website. Mavec stated hope passes away last as efforts were made to recuperate two caught miners however stated the situation was...

Ukraine has actually stopped production at its coking coal mine in Pokrovsk, which feeds the country's. steel market, since of the proximity of advancing Russian. forces, two market sources informed Reuters on Monday. The center in the embattled city of Pokrovsk is Ukraine's. only mine that produces coking coal required for the nation's. when giant steelmaking market, which has withered because. Russia's February 2022 invasion. Russia has actually long been surrounding the key logistics hub of. Pokrovsk, and DeepState, a Ukrainian military analytical blog site. based upon open-source intelligence, stated Moscow's soldiers were. less than 2 km (1.24 miles) from...

Ukraine's greatest steelmaker, ArcelorMittal Kryvyi Rih, increased raw steel output by practically 70% to 1.65 million metric tons in 2024, the company stated on Tuesday, though production stayed far listed below its prewar capacity. The business provided no explanation of the jump, but steel producers' union has stated a boost domestic and foreign need combined with the unblocking of Black Sea ports, which act as a gateway for exports, assisted improve output. In 2021, the in 2015 before Russia's intrusion in February 2022, the steelmaker's output amounted to 4.9 million tons. Ukraine's total steel production increased 21.6% to 7.58 million...

Russian forces are closing in on the tactically important eastern Ukrainian city of Pokrovsk after capturing a string of towns to its south, and Ukraine has actually halted production at its only coking coal mine nearby due to the advance. Here are some key points about Pokrovsk and the fight. WHAT IS POKROVSK? Pokrovsk is a roadway and rail center in Ukraine's eastern Donetsk area, which had a pre-war population of some 60,000 people. While the majority of people have actually run away, Ukraine estimated last month that approximately 11,000 still stay in the city. It pushes an essential road...

The worth of China's imports and exports with Russia reached 1.74 trillion yuan ($ 237. billion) in 2024, a record high, Chinese customs data showed on. Monday, as the 2 countries' leaders hailed bilateral. relations. China-Russia yuan-denominated trade value grew 2.9% in 2024. from 2023, according to the information by China's General. Administration of Custom-mades. The growth was significantly slower. than the 32.7% gain in 2023. Bilateral trade was interrupted by payment difficulties last year. after the United States heightened sanctions on banks dealing. with Russia, Reuters formerly reported. Russian President Vladimir Putin stated in December that the. main obstacle...

China's coal imports increased 14.4% in 2024 to a record high, official data revealed on Monday, as lower global coal prices spurred purchasers to substitute imports for domestic supply. Coal imports for the year amounted to 542.7 million metric lots, according to China's General Administration of Customs, up from 474.42 million loads in 2023. The increase in China's coal imports in 2024 was supported by declines in seaborne coal rates which encouraged import arbitrage in relation to China's domestic supply for a wider series of coal types, stated Toby Hassall, lead coal analyst for LSEG, adding that development in domestic...

Ukraine's steel output increased by 21.6% in 2024 to 7.58 million metric loads, its manufacturers union said late on Thursday, though combating that is closing in on the nation's only coking coal mine threatens to slash volumes this year. Steel production has actually currently suffered considering that Russia's. intrusion on Feb. 24, 2022, which has caused the damage of. leading steel plants. Ukraine, formerly a major steel manufacturer and exporter,. reported a 70.7% drop in output in 2022 to 6.3 million lots. It. fell to 6 million heaps in 2023. The steelmakers' union said in October the potential closure. of...

India is anticipated to sign a. preliminary contract with Mongolia soon in the area of geology. and exploration, a senior Indian government official with direct. knowledge of the matter said. Landlocked Mongolia is abundant in deposits of copper and coking. coal, and India is mainly based on imports to satisfy increasing. demand for the red metal used in power, building and. electrical cars in addition to coking coal for steelmaking. India's cabinet has actually approved the MoU (memorandum of. understanding) and both countries are expected to sign it quickly,. the source said, declining to be determined as the considerations. are...

Ukraine has increased its steel production up until now in 2024 by 23.1% to 7 million metric tons, information from the country's steel manufacturers union revealed on Monday, however the possible loss of an essential coking coal mine makes the outlook unsure. Steel production has suffered since Russia's invasion of Ukraine on Feb. 24, 2022, and the destruction of leading steel plants in fighting since then. The nation was a significant steel producer and exporter before the war started. Ukraine's rolled steel output increased by 18% to 5.7 million lots in the January to November period, while pig iron production...

Asia's imports of Russian petroleum and melted natural gas are set to log little decreases this year and while coal had a larger drop, there's little evidence that Western sanctions are working well. Russia has actually come to depend on Asia, the world's biggest buyer of energy commodities, to soak up cargoes that are no longer able to be offered to buyers in Europe and elsewhere as an outcome of sanctions positioned against Moscow in the wake of the February 2022 invasion of Ukraine. China and India emerged as major purchasers of Russian crude, coal and LNG after the intrusion,...

China's coal imports rose 3% in August as utilities continued to stock up in the middle of recordbreaking heat, but rising eco-friendly power generation appears to be gradually dampening the rate of import gains. August shipments stood at 45.84 million metric lots, information from the General Administration of Customs showed on Tuesday. Nevertheless, that was below July's 46.21 million heaps, a. seven-month high. July was China's hottest month because records started, and. heat waves continued to sweep across the country in August. That. resulted in soaring power demand as households and company turned on. their air conditioners. However China's thermal...

Asia's. imports of seaborne thermal coal are expected to be largely. consistent in June, however are revealing some divergence between strength. in North Asian purchasers of higherquality fuel and softness in. lowergrade coal sought by China and India. Asia, the top-importing area of the power-generation fuel,. is on track to see arrivals of 76.39 million metric loads in. June, according to data assembled by commodity analysts Kpler. This is down slightly from May's 78.67 million loads, however up. from 74.81 million in June last year. Much of the little drop in June imports can be credited. China, the world's biggest...

LONDON, May 30 - Dutch and British gas rates edged lower on Thursday morning as a relieving in maintenance caused increased flows from Norway and warm temperatures suppressed demand. The benchmark front-month contract at the Dutch TTF hub inched down by 0.18 euro to 33.70 euros per megawatt hour (MWh) by 0801 GMT, while the July agreement slipped 0.23 euro to 33.90 euros/MWh, according to LSEG information. In the British market, the day-ahead agreement was down 1.25 pence at 81.00 pence per therm. Temperatures increase over the weekend and remain above ( seasonal) normal up until a minimum of completion...

Coal mining output at accidenthit mining districts of Shaanxi and Inner Mongolia in China's north have gone back to normal, a major coal market group said on Wednesday. A recent spike in coal mine mishaps had actually pressed authorities to purchase safety evaluations at major mining centers consisting of Shaanxi and Inner Mongolia, slowing down production. Output at Shaanxi, China's top producing province, has remained stable, but not gone back to the levels seen before the evaluations started, stated Han Lei, General Supervisor at the research department of China Coal Transport and Distribution Association. The domestic market is still oversupplied,...