A roundup of international coal news from Jan. 29 to Feb. 5.
North America
Canada:
Asia
China:
Nearly 10.5 billion tonnes of coal reserves have been discovered in China's Shanxi province over the past five years, Xinhua News Agency reported. From 1949 through 2014, the province's coal production reached 16.2 billion tonnes, and by 2014, it had found 294 billion tonnes of coal reserves.
The country's Hebei province suspended its plan to switch millions of households from coal to natural gas heating systems after supply shortages left homes without heat in subzero temperatures, according to a report in Chinese business magazine Caixin, which said a document from the country's Development and Reform Commission indicated the conversion project will be delayed until 2020.
Inclement weather has delayed thermal coal deliveries and driven prices to record highs in China as the country endures its worst blizzards this winter, prompting concerns about heating and power supply. "The price rally is being driven by blizzard weather across the country, which has blocked highways and even rail transportation in some places and boosted demand for heating," a Jan. 28 Reuters report cited Haitong Futures analyst Xu Bo as saying.
South America
Colombia:
Australia
A new analysis shows that Australia's giant banks slashed loans to coal companies by more than 50%, or roughly A$1.5 billion, in 2017 amid investor and regulatory pressures over climate change risks, The Sydney Morning Herald reported. New corporate lending by the country's four financial giants plunged from A$3.1 billion in 2015 to A$1.4 billion in 2016 and to just A$99 million in the first half of 2017.
Adani Enterprises Ltd. will not receive federal funding from the Northern Australia Infrastructure Facility to construct a rail link to the company's controversial Carmichael coal mine in Queensland, Reuters reported Feb. 4. The news is a major blow for Adani, which was looking to secure a A$900 million concessional loan for rail to link Carmichael to port.
Altona Energy Plc said Feb. 2 that it entered into a nonbinding memorandum of understanding with joint venture partners Wintask Group Ltd. and Sino-Aus Energy Group Ltd. to jointly assess the potential for a conventional coal mine in the Westfield tenement, part of the Arckaringa property in South Australia.
Glencore Plc filed an application with Australia's Fair Work Commission seeking the termination of the enterprise agreement with the Queensland coal union as a workers' lockout at the company's Oaky North coal mine in Queensland, Australia, continues, The Australian Financial Review reported Jan. 30.
Activist investment group Australian Center for Corporate Responsibility, which pushed BHP Billiton Group to review its membership in the Minerals Council of Australia, is now engaging with Rio Tinto over the same issue ahead of the miner's annual shareholder meetings in April and May, The Australian Financial Review reported Jan. 29.
Africa
South Africa:
This feature was updated as of 9:53 a.m. ET on Feb. 5. Some external links may require a subscription.
