Teck Agreement with Westshore on Coal Shipments
Teck Resources Limited (”Teck”) today announced that it has agreed with Westshore Terminals Limited Partnership (”Westshore”) on terms for the shipment of 3 million tonnes of coal per year from Teck’s Elkview, Cheviot and Line Creek mines over the next two years at fixed rates. Under the prior Elkview agreement, which expires on March 31, 2010, port rates varied with the price of coal. Teck and Westshore have also agreed to amend the agreement under which Westshore handles coal for the Fording, Greenhills and Coal Mountain mines. From and after April 1st, 2011 to the end of the term of this contract in 2012, none of Teck’s port charges will be linked to the price of coal. In addition to its ongoing use of the Westshore facility, Teck expects to ship additional coal through Neptune Terminals, in which Teck has a 48% interest. Read more
Xstrata Coal to Start ATCOM East Project in South Africa
Xstrata has given authorisation to Xstrata Coal to go ahead with the ATCOM East Project in South Africa, offering a commitment of $407m to the project.
The ATCOM East Project will be incorporated into the Xstrata Coal South Africa ATCOM infrastructure and annually generate 5.7 million tonnes of run of production and 3.1 million tonnes of saleable thermal product for local and export markets yearly.
Xstrata Coal chief executive Peter Freyberg said the project would be a key element in the development of Xstrata Coal’s South African operations. Read more
BHP Billiton, Norilsk to Mine Coal in Russia
BHP Billiton and Norilsk Nickel are going to mine coal in the Arctic by 2015.
The companies said they will mine the resource at the Syradasai deposit near the port of Dikson on the Kara Sea.
Norilsk’s transport department deputy director for production development Nikolai Matyushenko said from 2015 both companies plan to initially mine eight million tonnes of output a year before hitting a target of 12-15 million tonnes.
The project will involve the development of a processing unit and a power plant at the Syradasai deposit. Read more
US Department of Labor’s Mine Issues Safety Warnings to Coal and Metal Mines
The US Department of Labor’s Mine Safety and Health Administration has issued notices to ten mine operators it says could stand accused of a string of violations of mandatory health or safety standards.
Under an MSHA act, the violations include exposure to hazards and negligence by the mine operations.
MSHA deputy assistant secretary for policy Dr Gregory R Wagner said the nine coal mines and one metal / non-metal mine were the fifth round of mine operators to be given such notices.
According to the MSHA, the operators violated Section 104 of the Federal Mine Safety and Health Act of 1977 . Read more
Invensys Operations Management Provides Dynamic Simulation for ConocoPhillips’ E-GasTM Technology
PLANO, TX- Invensys Operations Management, a global provider of technology systems, software solutions and consulting services to the process and manufacturing industries, today announced that it has reached a multi-year agreement with ConocoPhillips, the third-largest integrated energy company in the United States, to provide dynamic simulation for the development of ConocoPhillips’ proprietary E-Gas technology. Read more
TransAlta extends offer for Canadian Hydro Developers, Inc. to October 14, 2009
CALGARY, ALBERTA-TransAlta Corporation announced today its wholly-owned subsidiary has extended its offer to acquire all of the issued and outstanding common shares of Canadian Hydro Developers, Inc. for $4.55 per share in cash to 6:00 p.m. on October 14, 2009, unless withdrawn or extended. Read more
