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...The company has long insisted that publicly listed mining groups are better placed to responsibly run down coal mines as the world decarbonises, rather than selling them to privately held companies that...
...a UN pact on coal was first signed....
...OECD countries have held a second round of closed-door talks in Paris to debate proposals by the EU and UK to cut off most export credit agency loans and guarantees for oil, gas and coal mining projects,...
...Mining and trading group Glencore recorded a big increase in carbon emissions last year after it expanded coal production and restarted an oil refinery in South Africa that was closed by an explosion....
...The debt reduction plan aims to pave the way for the Swiss group to spin off a separate coal company in the second half of 2026, in what would be its most radical restructuring since buying mining group...
...London should ditch aspirations to be a global centre for technology company listings and instead focus on reversing the flight of mining groups to Australia and Canada, says the head of a UK private equity...
...India is seeking to revive underground coal mining as it tries to boost production to meet the country’s fast-growing energy needs despite international pressure to phase down use of the polluting fossil...
...But its speciality business agreed to insure thermal coal mining company Global Mining Holding Company, LLC, and its subsidiary Signal Peak Energy for up to $2mn, for the two years to November 2023, according...
...Glencore’s last deal was to acquire coal. BHP said it was reassessing a nickel project it acquired last year with Oz Minerals....
...A consortium led by Glencore has struck a $9bn deal to buy the coal business of Teck Resources, as the London-listed mining and trading giant doubles down on the fossil fuel....
...The resilient performance came even as overall revenues for the company’s collection of businesses — which also include mining, renewables and airports — dropped 40 per cent to Rs225bn....
...In the coal mining sector, regret has worked the other way around....
...BHP and Japan’s Mitsubishi have sold two coal mines in Queensland to Sydney-listed Whitehaven for $3.2bn as part of the mining company’s move away from fossil fuels....
...Global mining companies have called for a green premium for sustainably produced nickel traded on the London Metal Exchange, as a flood of allegedly “dirty” supplies from Indonesia squeezes profits for producers...
...The Swiss mining and trading house on Tuesday said it planned to merge Teck’s steelmaking coal business with its own coal assets before spinning off the combined unit within two years of completing the acquisition...
...A struggle for control of the resource has been ignited this year as multinational companies have clashed with Australian mining billionaires over a series of takeover attempts in two of the remotest parts...
...Shutting down state-owned coal-fired power plants and accelerating the transition to solar and wind — built by private companies, many of them white owned — is highly controversial....
...That pipeline has made them an attractive takeover target in a sector where several of the largest mining companies are seeking to boost their long-term access to the metals needed to build the electrical...
...Mining companies have been battling surging cost inflation for key inputs such as diesel and explosives....
...In recent years, Glencore has hoovered up coal assets other mining groups wanted to cleanse themselves of....
...At the time, the government auditor estimated that the country had foregone $33bn of tax revenue due to low royalty rates agreed on questionable coal mining concessions....
...International Energy Agency data shows that together China and India set monthly records for coal energy production in March 2023 and burnt 70 per cent of the world’s coal....
...Many shareholders and analysts believe Glencore’s share price valuation is depressed by its coal holdings, because coal companies trade at much lower multiples than other mining companies....
...Both coking coal and iron ore are relatively expensive. Steel prices have had a mini rebound since mid-October but Chinese mills will not continue to produce at a loss indefinitely....
...India’s Directorate of Revenue Intelligence, a government body that investigates economic crimes, conducted a years-long probe into whether Adani companies had been over-invoicing for imported coal, but...
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