Glencore said it will not spin off its coal business after securing backing from the majority of its investors, according to Reuters. The miner had been debating on whether to keep the coal assets or spin them off after it purchased the majority of Teck Resources’ steelmaking coal business last month. Retaining the coal assets “offers the lowest risk pathway…
Read MoreAnglo American has signed a memorandum of understanding with Swedish steel producer H2 Green Steel to work in tandem to advance low-carbon steelmaking processes. Under the terms of the deal, the two will study and trial iron ore from Anglo’s Kumba mines in South Africa and Minas-Rio mine in Brazil, which will serve as feedstock for H2 Green Steel’s direct…
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Canadian miner Teck Resources, after multiple reports of rumors, confirmed it is considering a spin-out of its steelmaking coal business. Full story.
Read MoreGlencore’s plan to develop the Sukunka steelmaking coal project in Western Canada has hit a major hurdle: the government’s rejection. Full article.
Read MoreSeveral global reports have cited new talks by Chinese officials toward the idea of ending a nearly two-year ban on Australian coal, in part by choppy supply chain waters. According to a 14 July Bloomberg report, a proposal will be prepared and submitted to senior leaders with a recommendation that Australian imports resume in Beijing. The impetus: easing tensions, as…
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Canadian miner Teck Resources has released unaudited second quarter 2022 steelmaking coal sales volumes and realized prices. Read full article.
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